Income tax return: what are the penalties for filing after the deadline?


Treasury has up to four to review taxpayers’ IRPF procedures

The final piece begins with the presentation of the income tax return corresponding to the 2021 fiscal year. On June 30, the deadline for taxpayers to report to the Treasury will end, knowing that the Treasury has prepared a series of sanctions for those who fail to do so on do time.

One of the most recurring ‘punishments’ per year is not submitting the tax return on time. And the tax experts at the TaxDown platform recall that the penalty for this consists of paying between 50% and 150% of the total debt in cases where you are going to pay. “A burden that can be incurred if the Treasury believes it has suffered economic damage or if it has already done so on other occasions,” they warn.

From the signature and from a report prepared by N26, they give the example of a taxpayer who pays 1,250 euros, who in the end would have to pay up to 3,125 euros. That is, “an amount higher than the average household savings in 2021, which was $252 a month, or about $3,000 a year.”

The company also warns that taxpayers to whom returns are returned will also be subject to sanctions if they fail to provide their records, either through ignorance or “out of simple laziness.” In concrete terms, the fine can be up to 200 euros. “So if the refund is less than this fine, it could happen that a taxpayer who was positive before, now comes to pay,” they indicate.

It should be taken into account that the revision period by the tax authorities of the tax procedures for personal income tax can be extended to four years. That is, the Treasury would have until 2026 to report other errors in this management. “If during this time the officials of the public body find that a person should have filed the personal income tax and has not done so, they will be sent a request. Likewise, a sanctions procedure will be initiated, which will have different consequences depending on whether tax management went out to pay or to return,” they urge TaxDown.

Experts indicate that if a person sends and pays the personal income tax motu proprio after the deadline, the fine will depend on the time it took. In such a way that shipping in July is charged an interest of 1%, in August 2%… and so on month after month, so it is important to leave it as soon as possible so that the interest doesn’t keep growing.

Source: La Verdad


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