Will you pay the IRS to the installments? There is a detail that can cost (much more) expensive

If you will pay IRS this year, be aware that you can do it in installments-but before you breathe with relief, you should know all the conditions. A little spoken detail can make you pay more than you expected.

According to Deco Proteste, “the amount of each installment adds interest on late payment, from the end of the deadline for voluntary payment to the month of the respective payment”.

The rate applied to 2024 is 8.309%, according to the law in force. That is, despite the flexibility, the installment of IRS implies an additional cost.

Who can ask for payment in installments?

Not all taxpayers are automatically eligible for this ease. According to Deco Proteste, taxpayers may make the request that:

-After delivered the IRS declaration on time (until June 30);

-Do not have other debts to finances;

-Include taxpayers covered by automatic IRS.

It should also be noted that the amount of the debt tax cannot exceed five thousand euros so that it is possible to resort to installments without the need to submit guarantees.

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What is the deadline to ask?

The request must be made by September 15, ie within 15 days after the end of the legal period of voluntary payment (August 31).

For those who meet the requirements, simulation and submission of the payment plan can be done directly on the Finance Portal.

How to request IRS payment on installments on the Finance Portal

If you meet the requirements and you want to advance with the fractional payment request, the process is done online through the Finance Portal.

Here’s how to proceed:

1. Aced to the Finance Portal In and authenticate with your NIF and password.
2. In the research field, write “Presidential plans” and select this option in the results.
3. Click on “Acid” and then choose the option “Registration”.
4. The list of collection notes will be presented on your behalf. Select that relative to IRS.
5. Click on “Simulate” to see the installment plan based on the amount of debt.
6. Indicate what intends to pay without warranty (if applies) and click “Confirm”.
7. Choose the number of installments – according to the limits defined by debt level – and confirm the simulation.
8. No field “Economic reason”select the most appropriate option and then justify the reason for the request with a brief explanation.
9. Finally, click on “Register order”.

After submission, the tax authority verifies if there are other debts. If the situation is regularized, the payment plan is automatically accepted.

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