Income Tax 2023: see how to anticipate the refund – 04/19/2023 – Market

Some of the main banks in the country provide a line of credit that makes it possible to anticipate the refund of the 2023 Income Tax.

The discharge of the loan occurs automatically when the money is released by the Federal Revenue Service. The counterpart is that the contracted bank is the one indicated in the statement to receive the refund amount.

If the taxpayer falls into the fine mesh, however, he will have to pay the amount, even if he has not yet received the refund money.

A Sheet sought 13 banks, seven of them responded, informing the conditions for contracting the loan. The settlement date varies. Many offer September 29th as the final payment date, the last batch of the IR, but there are those who extend the deadline until January 2024.

According to Reinaldo Domingos, from Abefin ​​(Brazilian Association of Financial Educators), anticipation is an option that means that the taxpayer does not need to wait for the lots to receive the amounts due for the refund. On the other hand, the payment must be made only once and, on the amount, there is interest charged and IOF (Tax on Financial Operations).

Among the consulted banks, the interest varies between 1.78% and 2.8% per month. Therefore, the possibility of using this credit is seen with caution. Financial educator Cíntia Senna, from Dsop, says that the measure should only be taken by those who are experiencing an emergency situation and see no other alternative.

“It only applies when the person is in a serious situation. When there is no limit on the card, when there is really no way out and this value will solve the situation they are going through. It should not be requested if it is a partial solution. [o contribuinte] need to solve the problem definitively”, he says.

She points out that if the money from the IR advance is to pay off a loan with higher interest, it is a worthwhile situation. Otherwise, no. “Another possibility to request is if you need to pay off a loan with higher interest rates. But it is also only valid if it is definitive”, she explains.

The recommendation is that the money is not used to make purchases that can wait. “See the need. If it’s something that you can wait a while, don’t hire them”, evaluates the educator.

As with any loan, the anticipation of repayment incurs interest and taxes and, therefore, the person requesting the service will not receive the full amount. “There will be these discounts. It is important that the person knows that the amount delivered by the bank will not be what he will receive as a refund. You get the anticipation, but you will have to pay these taxes”, says Cíntia.

A Sheet looked at 13 banks and the interest rate varies from 1.78% to 2.8% per month, and it is applied as soon as the contract is signed. Therefore, the longer it takes to issue the refund, the more interest will be charged. Some banks have a credit limit (between R$ 200 and R$ 50 thousand) and also the release of the amount.

Caixa, for example, offers 75% of the refund in advance (see the comparison below).

Beware of the fine mesh

The customer must pay attention to his statement before contracting the service, as the bank requires him to be chosen to receive the refund, an option that must be made by the taxpayer when sending the statement.

Another recommendation is that the taxpayer be sure that the data passed on to the Revenue are done properly, as there is a risk that the declaration falls into the fine mesh, which withholds the sending of the refund.

“If this happens, it is not possible to know if you will get the refund. And the term of the advance contract has to be met. The person needs to have the money to pay off this loan. If he does not pay, he will default”, explains Cíntia Senna.

“It is important to inform that, in order to ask the banks for advance payment, taxpayers must be sure that everything is correct in the declaration submitted to the government. payment of more interest and fines”, says Domingos.

Most of the banks targeted say they will wait until the last batch of refunds, scheduled for September 29, for the refund to be deposited. The Revenue makes no guarantees as to when the taxpayer will be included in the batches.

If the taxpayer chooses to hire the service, Cíntia recommends that a comparison be made between different institutions. “People also need to evaluate the relationship they have with the bank to get a better condition. And use the money for the function that was determined, which is to get out of the emergency situation. If not, the person will not solve the problem and will earn another debt”, he says.

See the conditions offered by banks:

Caixa Econômica Federal

• Credit released: Up to 75% of the refund amount
• Term: subject to approval
• Fees: 1.78% per month plus taxes
• How to order: It can be done at bank branches, Caixa application, internet banking and Alô Caixa (4004-0104 in capitals and metropolitan regions; 0800-104-014 in other cities)
• Conditions: Be a bank account holder, be entitled to the refund and indicate in the statement that you wish to receive the refund in a bank account

Bank of Brazil

• Credit released: Up to 100% of the refund amount, with a limit of BRL 20,000
• Term to repay loan: Date of receipt of refund or by January 15, 2024, whichever occurs first; hiring is allowed until September 29, 2023
• Fees: They vary according to the customer’s relationship with the bank
• How to order: It can be done in branches, bank application, internet banking, relationship center and ATM
• Conditions: Be an account holder, be entitled to the refund and indicate in the statement that you wish to receive the refund in a bank account

Bradesco

• Credit released: Up to 100% of the refund amount; Prices range from $200 to $50,000
• Term to repay loan: Date of receipt of refund or by September 29, 2023, whichever occurs first; Hiring is allowed until July 31, 2023
• Fees: From 2.56% per month plus taxes
• How to order: Can be done in branches, bank application and internet banking
• Conditions: Be a bank account holder, be entitled to the refund and indicate in the statement that you wish to receive the refund in a bank account

Itau

• Credit released: Up to 100% of the refund amount, with values ​​ranging from R$ 200 to R$ 10 thousand
• Term to repay loan: Date of receipt of refund or by December 21, 2023, whichever occurs first; Hiring is allowed until October 31, 2023
• Fees: 2.5% per month plus tax
• How to order: It can be done at the bank branch, bank application and internet banking
• Conditions: Be a bank account holder, be entitled to the refund and indicate in the statement that you wish to receive the refund in a bank account

Santander

• Credit released: Up to 100% of the refund amount, with amounts ranging from BRL 200 to BRL 50 thousand
• Term to repay loan: Date of receipt of refund or until October 2023, whichever occurs first; Hiring is allowed until July 31, 2023
• Fees: undisclosed
• How to order: It can be done at the bank branch, bank application, internet banking, call center and ATM
• Conditions: Be a bank account holder, be entitled to the refund and indicate in the statement that you wish to receive the refund in a bank account

Banrisul

• Credit released: Up to 90% of the refund amount
• Term to repay loan: Date of receipt of refund or final maturity, whichever occurs first; Hiring is allowed until September 8, 2023
• Fees: undisclosed
• How to order: It can be done at the bank branch, bank application and internet banking
• Conditions: Be a bank account holder, be entitled to the refund and indicate in the statement that you wish to receive the refund in a bank account

Inter

• Credit released: Up to 100% of the refund amount, with the money available within four business days
• Term to repay loan: Date of receipt of the refund or the final expiration of the contract, whichever occurs first; Hiring is allowed until September 8, 2023
• Fees: 2.8% per month plus tax
• How to order: It can be done through the bank application, in “Loans”; then select “Income tax refund anticipation”, and “internet banking”
• Conditions: Be a bank account holder, be entitled to the refund and indicate in the statement that you wish to receive the refund in a bank account

Sought after, banks C6, Daycoval, Mercantil, Nubank, Pan and PagBank reported that they do not provide this service.

How do I request a refund at the bank I hired?

• The taxpayer needs to know the amount he will receive as a refund. To do so, you need to open the declaration program and see the amount indicated in tax to be refunded.

• This information about the amount to be refunded will only appear after filling in all the fields of the declaration, with the income received and the payments made.

• Before sending the declaration, the taxpayer is asked to indicate the bank, agency and account in which he wants to receive the refund of the IR. Banks request that whoever hires the advance refund send proof that it was the chosen financial institution.

• If the bank option is changed after sending the statement, the taxpayer must send a rectifier

WHO HAS THE RIGHT TO A REFUND OF INCOME TAX?

The refund is the refund of the Income Tax that was paid in excess by the taxpayer during the calendar year, which, in this case, is 2022. The calculations to find out if there is tax refund, if the balance is zeroed, or if necessary to pay the IR are done by the program for completing and sending the declaration.

The amounts are paid in batches. The date of receipt will depend on whether the taxpayer is a priority or not and when the declaration was submitted.

INCOME TAX 2023 START PAYING REFUNDS ONLY IN MAY

The 2023 IR refund will begin to be paid on May 31, the deadline for submitting the IR statement this year. There are five batches of payments, from May to September.

As has historically occurred, the Revenue will follow a list of priorities in the restitution lots, based on the delivery date. The first to receive will be the elderly aged 80 or over, followed by:

2023 IR REFUND PAYMENT SCHEDULE

Batch	Pay day
1st	may 31st
2nd	June 30
3rd	July 31st
4th	August, 31
5th	September 29th