Income Tax 2023: find out how retirees declare it – 03/13/2023 – Market

The INSS (National Social Security Institute) retiree who will declare the 2023 Income Tax must report all their sources of income to the tax authorities, as well as goods and investments. If you have more than one pension, you need to declare both incomes.

Those who receive rent cannot fail to inform the values, as well as those who accumulate retirement with pension or won a share and were entitled to precatório or RPV (Requisition for Small Value) in 2022.

The retiree who still works must report salary and retirement. If you have a dependent with income, you also need to declare it. The INSS payroll has its own form and must appear on the IR if the loan is for a value greater than R$ 5,000.

Retirees over 65 are entitled to extra exemption from Income Tax from the month in which they reach that age. The exemption limit appears in the INSS income report, which is now available on the internet and applies to official social security income.

Separate the documentation

The IR statement was released by the INSS on February 17 and can now be accessed on the Meu INSS website or application, or on the website extractir.inss.gov.br.

In my INSS, it is necessary to have a registration. Access is done with CPF and password. On the IR statement website, the insured person needs to inform the benefit number, date of birth, full name and CPF number. It is possible, on any of the platforms, to save the PDF of the document.

Have other documents on hand, such as medical receipts, proof of withdrawal from the FGTS (Employee Severance Indemnity Fund), if applicable, vehicle document, property documentation, rent receipts received, among others.

Program can now be downloaded

The IR generator program is now available. The mobile and tablet version will only be released on the 15th. Those who will make the declaration on the same computer used last year can import the data, which facilitates filling.

Retirees who have a Gov.br account at silver or gold levels will also be able to make a pre-filled statement, which will come with data from bodies such as the INSS, health insurance and real estate, but only from March 15th.

What should a retiree’s income tax return look like?

For those aged up to 65

• The INSS benefit is taxable income and must be declared in the form Taxable Income Received from Legal Entities
• Inform the name of the paying source, which is the FRGPS (General Social Security Regime Fund)
• The CNPJ is 16.727.230/0001-97
• The retirement amount is on line 3 – Taxable Income, Deductions and Withholding Tax, in total
• Declare the total amount paid and the IR withheld, if any

13th of retiree

• It is on line 5, of Income Subject to Exclusive Taxation, where it reads “Thirteenth salary”
• Inform the withheld IR, if any

For those aged 65 and over

• There is an extra exemption from the IR from the month of your birthday, limited to R$ 24,751.74 (12 installments of 1,903.98 plus the 13th in the same amount)
• The exemption is only valid for retirement income, pension or reform of official bodies such as the federal government, city halls, states or the Federal District
• The amount goes on the Exempt and Non-Taxable Income tab
• It is on line 4 of the INSS report
• If there is taxable income, it must be declared in Taxable Income Received from PJ

Retired who works

• Salary and retirement must be informed
• In Taxable Income Received from a Legal Entity, declare retirement and salary if paid by a company
• If you receive it from an individual, declare it in Taxable Income Received from PF/Abroad
• If you are 65 or older, the exemption limited to BRL 24,751.74 is valid only for official pensions and is shown on the Exempt and Non-Taxable Income form

Insured receiving retirement and pension

• For those under 65 years of age, both benefits must be declared in Taxable Income Received from Legal Entities
• If the benefits are from the INSS, they can be declared in a single tab, when opening “New”
• Those over 65 years old are entitled to exemption on both incomes, but only up to the limit of R$ 24,751.74 in the year
• These amounts are declared under “Exempt and Non-Taxable Income”
• Follow what the INSS report says

Benefit from other social security bodies

• If the retirement or pension is from another institution, it is necessary to open a new file in Taxable Income Received from Legal Entities to declare this money

For those who received a precatório, RPV or arrears from the INSS

• The arrears received after granting or revising the benefit must be declared in the Accumulated Earnings form
• There is an exclusive field to declare the interest of the shares, if any
• In the case of arrears paid directly by the INSS, the information will appear on line 6 of the institute’s income report
• Choose the Exclusive at Source option and inform the name and CNPJ of the paying source, total income received, exempt portion for those over 65 years old, if applicable, tax withheld at source, number of months to which the amounts refer and month of receipt

Base year arrears

• Those who requested the benefit and waited a few months to receive retirement, but received the accumulated amount within the base year of 2022 must declare it according to the INSS report

Lawyer payment

• Fees are stated on the Payments made tab
• Before reporting arrears received, deduct the payment made to the lawyer

Retired with private pension

• Those who receive INSS retirement and have private benefit income must inform the two funds in the IR
• Declare the amounts on the Taxable Income Received from PC tab
• For each of them, open a new form, informing CNPJ and all amounts received, according to the income report
• Private pension does not guarantee greater exemption to retirees from 65 years old
• It may be that, when informing the amounts received last year from the private pension, the taxpayer has a smaller refund or needs to pay IR

Retired with payroll loan

• Consignment over BRL 5,000 must be declared in Debts and Encumbrances
• For each loan, open a new file
• The code to be entered varies depending on where the credit was taken
• In Discrimination, inform the name of the institution, CNPJ, date on which you took the loan and amount borrowed
• In the value fields, declare the amount paid in 2022 and the balance due on December 31
• If you already had a loan before, also declare the outstanding balance of the previous year
• In order not to make a mistake, take the bank’s income report and follow what the document says

Retired due to disability

• Anyone who is retired from the INSS due to disability due to a serious illness established by law and is obliged to declare the IR for other reasons provided by law must inform the benefit on the Exempt and Non-Taxable Income form

Pensioner who receives rent

• The rent will go in specific sheets, according to the renter. If rented to a legal entity, declare it in Taxable Income Received from Legal Entities
• If the rent was for an individual, declare it in Taxable Income Received from PF/Abroad
• Deduct the commission amount paid to the real estate agent and IPTU and declare the remaining amounts

Declaration of assets and rights

• Those who have assets must submit them to the Income Tax
• They go on the Assets and Rights tab, even if they are financed
• Inform the registration of the property and the Renavam (National Registry of Motor Vehicles) of the vehicle
• The value to be declared is that of the purchase, except in the case of properties and cars that are still financed. In this case, the amount paid so far must be declared

health expenses

• Expenses with health, education and dependents, among others, guarantee a greater refund or the payment of less tax
• With the exception of dependents, who must be declared in their own form, the taxpayer informs his expenses in Payments Made, under the specific code for each expense
• You have to be very careful with medical expenses, as they are among the biggest reasons that lead to thin mesh.
• Declare only what is on the insurance income report or the amount that appears on the receipt of your medical or dentist appointment
• Medicines do not give a deduction on the IR