Did you miss the 2023 Income Tax deadline? Find out how to get it right with the IRS!

Check out what to do if you missed the 2023 Income Tax return deadline! See the details.

In September, the Federal Revenue Service completed the payment of Income Tax for 2023. Therefore, if you did not file your income tax return on time, it is essential to settle this matter. Remember, even with the deadline ending in May, you still have the obligation to submit your return.

However, if you find yourself in this situation, be prepared to pay a penalty. The minimum amount of this fine is R$165.74, and it can increase by R$113 per month of delay on the amount of tax you owe. Read on to find out more.

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What to do if you did not file your 2023 Income Tax return within the deadline

The process for filing your tax return is almost the same as for filing it on time. You can file your tax return online, through the IRS platforms, or through the “Meu Imposto de Renda” service. Don’t forget that in 2023, the tax return refers to earnings from 2022.

Then, fill in all the requested fields, informing your earnings, expenses and personal data, even outside the regular Income Tax period. When finished, the software will calculate the amount of the fine for you.

After submitting the declaration, you will have 30 days to pay the amount determined by the IRS. After this period, additional interest will be charged. Payment is made through the Federal Revenue Collection Document (DARF), available on the IRS website.

And what happens to the refund in this situation?

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Even if you pay the fine, if the amount you have already paid is more than the tax you owe, you may be able to get a refund. However, if the opposite happens, you will have to pay an additional amount.

Most crucial of all, it is imperative to adjust and submit your Income Tax return even after the stipulated deadline. Failure to do so may lead to financial complications, such as: inability to obtain negative certificates, barriers to applying for credit and irregularity of the CPF with the IRS.