Have you already filed your IRS? Don’t forget you only have until June 30th

Deepak Gupta June 15, 2022
Updated 2022/06/15 at 1:58 AM

The delivery of the IRS declaration for 2021 can be carried out until June 30. To help throughout the process, the Tax and Customs Authority launched the new automatic IRS APP.

According to recent data, one-third of taxpayers who opted for automatic IRS filed the return in the first week.

IRS: 1.65 million statements through the Automatic IRS have already been delivered

The IRS is the acronym for Personal Income Tax. In other words, it is the tax that taxes the income of citizens, with some exceptions provided for by law. The IRS is levied on virtually all income, even when it comes from illegal acts.

According to recent data from Finance, this year around 1.65 million statements have already been delivered through the Automatic IRS. In addition, a third of the people who opted for automatic IRS filed the return in the first week.

Have you already filed your IRS?  Don't forget you only have until June 30th

Since the first week, the percentage of declarations submitted through the automatic IRS has been decreasing, from 48% of the total in the first week to 36% in the balance sheet of June 8th.

It should also be remembered that taxpayers covered by the Automatic IRS, who during the respective delivery period do not confirm the automatic IRS declaration or deliver the declaration in general terms, will have the provisional automatic declaration as a final declaration.

The IRS is not levied on all income received. The IRS Code basically provides for two types of discounts: income deductions and collection deductions (tax payable).

all in all, there are six categories of income subject to this tax:

Category A

  • This category includes income from dependent work, such as salaries, bonuses, percentages, commissions, participations, subsidies or prizes, indemnities, etc.

Category B

  • This category includes business and professional income. In question are income generated by the exercise of any commercial, industrial, agricultural, forestry or livestock activity. Among other income, this category includes sums obtained in the exercise, on their own account, of any service provision activity, including those of a scientific, artistic or technical nature, regardless of their nature.

Category E

  • It includes income from capital, including interest on demand or term deposits and dividends.

Category F

  • Property income is considered to be income from rural, urban and mixed buildings. This category also covers income from operating local accommodation, provided that it is not involved in a business activity.

Category G

  • This includes equity increases that are not considered in the other income categories. These are: capital gains, compensation for unproven emerging damages and for lost profits and compensation for moral damages. Equity increases are also considered to be the amounts attributed due to the assumption of non-compete obligations and unjustified increases in equity.

Category H

  • It is made up of income from retirement or retirement pensions, old age, disability or survivors' pensions, as well as alimony. Also included in category H are benefits paid by insurance companies, pension funds, or other entities, within the scope of complementary Social Security schemes, due to contributions from the employer and which are not considered income from dependent work.

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