Income Tax: Revenue already has a record of declarations – 05/30/2023 – Market

The Federal Revenue has already received a record number of declarations of the 2023 Income Tax, one day before the deadline. More than 37 million declarations had been received by the government until 20:00 this Tuesday (30), surpassing the 36.3 million of last year.

The deadline for rendering accounts ends at 23:59 this Wednesday (31). Those who are obliged to send the IR and are late pay a minimum fine of R$ 165.74, which can reach 20% of the tax due for the year.

This year, the Revenue expects to receive between 38.5 million and 39.5 million statements, but the number may exceed initial expectations, as also occurred in 2022, when the forecast was to receive 34.4 million documents.

Of the total, 63% will refund tax, 19% must pay income tax and 18% have neither tax to refund nor to pay, which is when the final balance is zeroed.

The record reached in 2022 was attributed to the lag in the Income Tax table, which has not been readjusted by the government since 2015 and makes workers and retirees pay more income tax each year. In May 2023, the government readjusted the IR exemption range, expanding the number of taxpayers who will no longer pay tax. The new calculations, however, have an impact on salaries received in 2023 and which will be declared in 2024.

What is the Income Tax return?

The income tax declaration is an annual rendering of accounts that the taxpayer makes with the Federal Revenue, which is based on the previous year. In the case of the 2023 declaration, the rendering of accounts refers to the year 2022, that is, all income received and payments made up to 12/31/2022.

Also included in the declaration are assets that the taxpayer owns, such as property and a car, donations made in the previous year, bank accounts, provided that the balance on December 31 is over R$ 140, investments and debts above R$ $5,000.

Who is required to declare income tax?

The criteria that oblige the taxpayer to declare the Income Tax are diverse. Among them are the annual taxable income limit, in addition to the value of goods and rights or even the limit of movement on the Stock Exchange, for those who make this type of investment.

This year, the Revenue changed the rules on shares on the Stock Exchange that oblige the taxpayer to declare. See below all the rules that require the submission of the IR declaration in 2023.

WHO SHOULD DECLARE THE IR IN 2023

Must declare income tax this year who, in 2022:

• Received taxable income above BRL 28,559.70, which includes salary, retirement and pension from the INSS or public bodies

• Received exempt income, non-taxable or taxed exclusively at source (such as savings income or FGTS) above BRL 40,000

• Had a capital gain (ie, profit) on the sale (transfer of ownership) of goods or rights subject to the levy of tax; this is the case, for example, of the sale of a car with a value greater than the amount paid for the purchase

• Was exempt from IR on capital gain on the sale of residential properties, followed by the acquisition of another residential property within 180 days

• Carried out operations on the stock, commodity, futures and similar exchanges, the sum of which was greater than BRL 40,000, or with net gains subject to the levy of tax

• Had, on December 31, possession or ownership of assets or rights, including bare land, in excess of BRL 300,000

• Obtained gross revenue in rural activity in an amount greater than R$ 142,798.50

• Want to offset losses from rural activity in 2022 or previous years

• He moved to Brazil in 2022 and was in that condition on December 31

How to declare income tax?

The income tax declaration can be made by computer, cell phone or tablet, or online. This year, the pre-filled declaration is an ally for those who are in the final stretch and need to provide evidence. There are three ways to access this model: through the declaration generator program, which must be downloaded onto the computer; online, in My Income Tax, through e-CAC or Portal Gov.br; and through the My Income Tax application for cell phones and tablets.

Those who are going to access the statement on the computer must download the program from the Federal Revenue website (click here to see the step by step). Those who choose to do the IR online will have to have a gov.br password to access the declaration through the portal of the same name or through the e-CAC. (Click here to learn how to create your password).

In the case of the app, just download it from your phone’s app store. To access, however, the gov.br password is also required.

Follow the step-by-step guide on how to declare income tax on the computer

• Open the IRPF 2023 program on the computer and click on “New”
• Inform the type, if it is an annual adjustment, end of estate or permanent departure from the country
• Next to it will appear the options to declare through the pre-populated form, copying data from the previous declaration or creating a blank document
• The pre-filled will only be available from March 15th
• Enter CPF, name and click OK
• Fill out the taxpayer identification form and go to the other forms
• Inform if there is anyone with a serious illness or physical or mental disability
• Last year’s IR receipt number as well as voter registration are not mandatory. When sending the IR, they will appear as a yellow pendency, which does not prevent sending
• The dependents go in their own file; if they have income, they must be informed
• Income must be declared as received from a legal entity, if from a company, or PF, if paid by an individual. In this case, the statement must inform the values ​​month by month
• IR deductible expenses go to Payments Made
• Since 2022, the Assets and Rights sheet has the option of declaring assets by groups; house and apartment go in group 1 and cars in group 2
• Bank account with a balance above R$ 140 on 12/31/2022 goes to Goods and Rights
• Debts are declared in Debts and Encumbrances

What happens if I do not declare the Income Tax?

Among the main punishments linked to failure to deliver the declaration are payment of a fine and suspension of the CPF (Individual Taxpayer Registration), which is “pending regularization”. In this case, there are several impediments linked to citizenship. The person may have problems with bank accounts, issuing passports, participating in social programs and taking a public tender.

To regularize the pendency, you will have to present the declaration. As you will be in arrears, you will be fined a minimum amount of R$ 165.74 and a maximum of up to 20% of the Income Tax due in the year. With an irregular CPF, it is not possible to obtain a passport, apply for an entrance exam, obtain a certificate.

What is an Income Tax Refund?

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

SEE THE 2023 INCOME TAX REFUND PAYMENT SCHEDULE

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

Even without being obliged to declare the IR, some taxpayers may have tax withheld at source and, if they deliver the declaration to the Federal Revenue, they manage to refund everything they paid to the tax authorities last year.

Under the rules, workers who had taxable income between R$ 22,847.77 and R$ 28,559.70 in 2022 are not required to declare the IR. However, those who received amounts above R$ 22,847.76 in the year paid Income Tax in some month, but are not obliged to declare. If you render accounts, you get back everything you paid.