Not all taxpayers receive an IRS refund. In many cases, the final result translates into an additional amount to pay to the Tax Authority, whose settlement should be made by 31 August. If you have difficulty complying with this deadline, be aware that it is possible to resort to payment in installments.
According to the Comparethis option is available to taxpayers with a tax amount payable equal to or less than 5,000 euros, without the need to submit any type of warranty.
However, there are some conditions to benefit from this modality.
Who can join payment in installments?
According to the same source, only taxpayers who delivered the IRS declaration within the deadline and who do not have previous tax debts may ask to pay the tax on installments. If these conditions are gathered, the request can be made through the Finance Portal.
The deadline for full payment is August 31st. If until then you cannot meet the total amount, you may require the phased payment by following the steps indicated on the portal.
How to ask to pay IRS in installments
According to the Comparethe order is made online and involves the following steps:
- Start session at the Finance Portal with NIF and Password;
- Search “installments” in the research bar;
- Click on “President Plans”> “Age”;
- Select “Simulate/Register Order” and then “registration”;
- Choose the IRS collection note and click “Simulate”;
- Select “No Warranty Presentation” and confirm;
- Choose the number of installments according to reference table;
- Indicate an economic ratio for the request;
- Succinctly justify the reason for the request;
- Finalize the official registration of the request.
If the fiscal situation is regularized, the request is automatically approved.
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How many installments can I pay IRS?
Payment can be made in up to 12 monthly installments, depending on the debt amount. The table provided by detail the following:
- From 204 to 350 euros: 2 installments
- From 351 to 500 euros: 3 installments
- From 501 to 650 euros: 4 installments
- From 651 to 800 euros: 5 installments
- From 801 to 950 euros: 6 installments
- From 951 to 1,100 euros: 7 installments
- From 1,101 to 1,250 euros: 8 installments
- From 1,251 to 1,400 euros: 9 installments
- From 1,401 to 1,550 euros: 10 installments
- From 1,551 to 1,700 euros: 11 installments
- From 1,701 to 5,000 euros: 12 installments
What if the value is greater than 5,000 euros?
In this case, the same source explains, it is mandatory to present a guarantee, such as a bank deposit or a mortgage.
The guarantee must cover the amount of the debt, the interest rates and another 25%, with an additional three months for the total payment.
The request must be made within 10 days of notification. If you choose a mortgage, the deadline is extended to 30 days.
How is the value of the benefits calculated?
The value of the benefit results from the division of debt by the number of authorized installments. The first installment may be slightly higher because it includes fractions of the rest.
For example, for a debt of 1,175 euros, up to 8 installments will be authorized. Each monthly fee will be set based on this amount, being paid by the end of each month.
How do you make the monthly payment?
Payment is made through the reference included in the billing note, sent by mail or by service via CTT. It can be settled in the usual places such as ATM or HomeBanking.
Failure to install implies the cancellation of the provisioning plan and the immediate beginning of a tax enforcement process.
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