Taxpayers with IRS payable on income earned in 2019 have until today to pay the entire tax or the first installment, if they have adhered to the simplified installment payment.
The IRS Code determines that when taxpayers have income tax to be returned to the State, they must do so by August 31, and according to the latest official data available, of the more than 5,8 million IRS returns filed this year, around one million gave rise to a bill of lading.
At issue are taxpayers who, during 2019, earned income that was not subject to withholding tax (as is the case with most incomes, for example) or for whom the withholding tax was not sufficient to cover the entirety of the IRS who have to pay.
The tax will have to be paid in full by the end of today if there has been no adherence to the simplified installment payment system that was made available and which came in addition to measures aimed at alleviating the financial situation of families in light of the impact of the Covid-19 pandemic.
This simplified installment scheme does not require the provision of guarantees for those who have up to five thousand euros of personal income tax to pay, and the missing amount can be divided up to a maximum of 12 installments, this division being made according to the amount in question. For example: for values between 204 and 350 euros the maximum number of installments is two, but increases to three if the debt varies between 351 and 500 euros.
For amounts above five thousand euros or payments in more than 12 installments, it is necessary to provide a guarantee.
Adherence to this scheme had to be made up to 15 days before the end of the tax payment period and whoever did so will have until today to pay the first installment, with the following falling due by the end of each month.
For this purpose, the Tax and Customs Authority (AT) issues monthly billing documents, which will be sent to the tax domicile, or to the “Via CTT” mailbox if the taxpayer has adhered to this means.
The non-payment of any of the installments “imports the immediate maturity of the following ones and the initiation of the tax foreclosure process for the amount owed”, reads the information available on the Finance Portal.
The legislation governing the IRS determines that, as the annual declaration has been delivered within the stipulated deadlines, the IRS settlement note must be sent to the taxpayer by the AT by the 31st of July, thus giving at least a margin of one month for this to prepare the payment.
According to data provided by the Deputy Secretary of State and for Fiscal Affairs, António Mendonça Mendes, during a hearing in parliament in mid-July, of the 5,3 million IRS declarations paid up to that date, 1,6 million had a null result (with no place for payment or reimbursement) around one million resulted in a collection note and 2.569 thousand in reimbursement.
The IRS annual tax return campaign started on April 1st and ended on June 30th.
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