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Find out what to do if you missed the deadline for filing your 2023 Income Tax return! See the details.
In September, the Federal Revenue Service completed the payment of the Income Tax related to 2023. Therefore, if you did not file your Income Tax return on time, it is essential to settle this pending matter. Remember, even though the deadline ended in May, you are still required to submit the return.
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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 may increase by 1% per month of delay on the amount of tax you owe. Keep reading to understand better.
What to do if you did not file your 2023 Income Tax return on time
The process for settling your return is almost the same as the one used to file it on time. You can file online through the Federal Revenue Service platforms or via the “Meu Imposto de Renda” service. Do not forget that, in 2023, the return refers to earnings from 2022.
With that, complete all the requested fields, reporting your income, expenses, and personal details, even outside the regular Income Tax filing period. Once you finish, the software will calculate the amount of the penalty for you.
After submitting the return, you will have 30 days to pay the amount determined by the Federal Revenue Service. Once this period has elapsed, additional interest will be charged. Payment is made through the Federal Revenue Collection Document (DARF), available on the Revenue Service website.
And what about the refund in this situation?
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Even if you pay the penalty, if the amount you have already paid is higher than the tax owed, you may be entitled to a refund. However, if the opposite occurs, you will have an additional amount to pay.
Most importantly, it is essential to correct and submit your Income Tax return even after the stipulated deadline. Failing to do so can lead to financial complications, such as: inability to obtain tax clearance certificates, obstacles to applying for credit, and an irregular CPF status with the Revenue Service.
