Taxpayers have until this Sunday to claim general family expenses and expenses eligible for VAT deduction due to billing requirements that affect each taxpayer’s IRS cost.
From the middle of this month, in the personal part of the e-invoice portal, it was possible to get acquainted with the amount of deductions calculated by the Tax and Customs Authority (TA) based on invoices for expenses issued in the previous year, to which the taxpayer linked his tax identification number (TIN) .
These amounts deducted from the IRS have a direct impact on the IRS amount owed to each taxpayer, thereby affecting the amount of refund or tax still to be paid.
If the taxpayer finds discrepancies and omissions, he can file a complaint against the amounts in case of the two categories of expenses already mentioned. If these discrepancies and omissions relate to deductions for education, health care, housing or nursing home expenses, the time to correct them is on your annual IRS return.
It should be noted that when a taxpayer rejects the values determined by the AT and states in his return those that he believes to be correct, he must retain invoices confirming this version for four years.
Taxpayers also have until this Sunday to designate the entity to which they wish to allocate 0.5% of their IRS or VAT deduction as required by the invoice, and that choice can also be made when filing their return.
After this deadline, a new and final stage in the IRS annual reporting process begins: filing a return, which begins on April 1 and continues until June 30.
Author: Lusa
Source: CM Jornal
I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.