Income Tax Return: what are the penalties for filing after the deadline

Income Tax Return: what are the penalties for filing after the deadline

Treasury Office in Madrid. / ef

The Treasury has up to four to review the procedures for the IRPF of the taxpayers

AC Madrid

The final stretch begins to present the Income tax return corresponding to the 2021 financial year. On June 30, the deadline for taxpayers to report to the treasury ends, being aware that the Treasury has prepared a battery of sanctions for those who do not do so. do on time.

One of the most recurrent 'punishments' each year is, in fact, not submitting the declaration on time. And the tax experts of the TaxDown platform remember that the penalty for this consists of the payment of between 50% and 150% of the total debt in cases where you go out to pay. "A charge that can increase if the Treasury considers that it has suffered economic damage or if this has already happened 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 could end up having to pay up to 3,125 euros. That is, "an amount greater than the average savings of families in 2021, which was 252 euros per month, that is, about 3,000 euros per year."

The firm also warns that the taxpayers to whom the declaration comes out to return, are also exposed to sanctions if they do not present their data, either due to ignorance or "by simple idleness". Specifically, the penalty could reach 200 euros. "Consequently, if the refund is less than this fine, it could happen that a taxpayer who was positive at first, now comes out to pay," they indicate.

It must be taken into account that the review period by the Tax Agency of the tax procedures for personal income tax can be extended up to four years. In other words, the Treasury would have until 2026 to notify of other mistakes made in this management. “If during this time the officials of the public body detect that a person should have submitted the personal income tax and has not done so, they will be sent a request. Likewise, a sanctioning procedure will be initiated, which will have different consequences depending on whether the fiscal management went out to pay or to return, ”they insist from TaxDown.

Experts indicate that if a person motu proprio sends personal income tax after the deadline and goes out to pay, the fine will depend on the time it has taken. In such a way that, if it is sent in the month of July, an interest of 1% will be charged, in August 2%... and so on month after month, so it is important to leave it done as soon as possible so that the interest does not continue to grow.

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