The delivery of the IRS declaration starts on April 1, starting the period when taxpayers may submit their income for the previous year. For those expecting a refund, payment can start to be made within a few weeks. Learn more in this article about IRS refunds.
What the Ministry of Finance says
According to a source from the Ministry of Finance, “it is still too early to make exact predictions, but we have as an indicated reference the deadline last year.” In 2024, the first reimbursements related to the previous year were processed about 15 days after the submission of the statements.
The Tax Authority (AT) follows a phased plan for the return of the tax, giving priority to those who deliver the declaration earlier and without errors. However, the exact processing time may vary due to automatic validations or necessary manual checks.
How to ensure faster refund
To ensure faster refund, taxpayers must confirm that their bank details are up to date. The IBAN registered on the Finance Portal must be verified and, if necessary, changed following the path: Citizens> Services> Registration Data – IBAN – Change IBAN.
Those who do not have a bank account can choose to assign the amount of the reimbursement to another person. To this end, it is necessary to submit a request on the AT portal, in citizens> services> Credit Credit – Centence Request, indicating the tax identification number (NIF) of the person who will receive the amount.
How long can the statement be delivered?
The delivery of the IRS statement can be made until the end of June, it refers to. To avoid delays or errors, it is important to verify the declared amounts and the accurate expenses for the collection, ensuring that they are correct.
In addition, taxpayers have until the end of March to choose an entity to those who are allocating part of IRS or VAT. This option has no costs for the taxpayer and allows to support solidarity, cultural or religious institutions registered for this purpose.
Automatic IRS
Automatic IRS is still available for thousands of taxpayers. This option simplifies the process, as the AT provides a pre-named statement that the taxpayer only needs to validate and submit. However, it is essential to review all data before confirming.
Declarations that present inconsistencies may be delays in refund as they need additional analysis. Situations such as declared income or expenses incompatible with AT data may lead to manual review.
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You can follow the state of the declaration
Taxpayers can follow the state of their statement on the Finance Portal. After submission, the document may be presented in the “validation”, “settled” or “refund” states.
If there are errors
If there is an error in the declaration submitted, it is possible to make a correction by delivering a replacement statement. However, this may delay IRS refunds, as the new version needs to be processed again by the OT.
Refunds payment is mostly made by bank transfer. In the case of registered IBAN taxpayers, AT can issue a check, but this process is longer.
Reimbursement variation
Reimbursement values vary depending on the retentions made throughout the year and applicable deductions. Who retained more IRS than the tax due receives the excess back. Already those who retain less may have to pay the difference.
For any doubt, taxpayers can consult the AT informative leaflet about IRS or contact taxpayer support services through the finance or telephone portal.
Conclusion
With the IRS campaign ongoing, those who deliver the statement in timely and without errors can count on faster refunds. As in previous years, the first payments may occur in April, if there are no delays in processing.
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