Before submitting the annual IRS declaration, there is a mandatory step that continues to go unnoticed by thousands of taxpayers and which can have direct consequences on the tax payable or the refund amount. The deadline ends on March 2nd and, after that date, there is no longer room to correct omissions.
At issue is a broad set of tax communications and validations that the Tax Authority uses as a basis for determining deductions, tax benefits and family circumstances. Anyone who misses this moment risks losing money permanently, even if they have eligible expenses or favorable tax situations.
According to Executive Digest, a website specializing in economics and current affairs, this period is crucial because most of the information used by the IRS is not automatically corrected after the deadline. In other words, errors or omissions are reflected in the final tax assessment.
The step that many ignore before submitting the IRS
The most common mistake is to assume that it is enough to submit the declaration between April and June. In reality, before thatit is mandatory to confirm and communicate various data on the Finance Portal by March 2nd.
Among the main points to check is the validation of invoices in e-Fatura, essential to guarantee deductions in the areas of health, education, housing, homes and general family expenses. Unclassified or outstanding invoices simply do not count for IRS purposes.
Furthermore, it is necessary to confirm or update the composition of the household, including dependents, shared custody and other relevant elements. This information influences brackets, specific deductions and tax benefits, and is not automatically corrected by the Tax Authority.
Students, income and changes of residence require communication
There are also situations that require express communication from the taxpayer. Who has student dependents with income and intends to benefit from the taxation exclusion provided for in the IRS Code, must send proof of attendance at an educational establishment by the deadline.
The same applies to education expenses incurred in establishments located in the interior of the country or in autonomous regions, as well as charges for rent for permanent housing associated with the transfer of residence to interior territories defined by ordinance.
As explained by , these communications are crucial for expenses to be accepted for tax purposes and considered in the final tax calculation.
Lease contracts and tax benefits at risk
Another often forgotten point concerns long-term rental contracts. The duration, renewal or termination of these contracts must be communicated by March 2 whenever the application of reduced IRS rates provided for in the Tax Code is at stake.
Omitting this information could lead to the loss of tax benefits already applied in previous years, with a direct impact on IRS settlement.
It’s not just the IRS: there are other obligations until March 2
Although the IRS focuses most of its attention, this period also covers obligations related to VAT and IRC, especially for companies, self-employed workers and service providers.
Among other situations, several model declarations must be submitted by entities in the areas of health, education, nursing homes, leasing, donations and payments to non-residents. In the case of VAT, some taxpayers may have to submit regime change declarations by the same date.
After March 2nd, there are no longer any corrections
The Tax Authority uses the information validated by this deadline to prepare the automatic declaration and tax calculation. After March 2nd, it is not possible to correct invoices, change communications or recover forgotten deductions, even if the error is obvious.
That is why this preliminary step, often ignored, ends up being decisive. Confirming data, validating invoices and communicating specific situations can mean hundreds of euros more in reimbursement or an unexpectedly heavier tax bill.
Before submitting the IRS, it is worth stopping, confirming and meeting this deadline. Then it may be too late.
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