The batch of 2019 Income Tax Refund.
This is one of the moments that many Brazilians look forward to, after all, any “extra cash” is always welcome.
We have gathered a series of information that will certainly help you if you are unsure about getting your money back.
The information was collected according to official publications from the federal revenue service.
It is known that according to the record made by Brazilian taxpayers, bank credit for 72,546 Brazilians has already started to be carried out for R$ 240 million which will be refunded.
In total, of this total, R$104.186 million are for taxpayers with priority in receiving: 1,848 elderly people over 80 years old, 11,528 between 60 and 79 years old, 1,621 taxpayers with some physical or mental disability or serious illness and 5,667 taxpayers whose main source of income is teaching.
To find out if the declaration has been released, the taxpayer must access the IRS website or call Receitafone 146.
When consulting the IRS website, e-CAC service, it is possible to access the statement extract and see if there are any data inconsistencies identified by the processing. In this case, the inconsistencies can be assessed and self-regulated by submitting a corrective statement.
Income tax 2019
According to official information from the IRS, they are required to declare the Income Tax taxpayers who: Received taxable income (such as wages and rent) whose annual sum was greater than R$28,559.70. Or those who had, in 2019, gross revenue in an amount greater than R$142,798.50 in rural activity.
2019 Income Tax Refund Calendar
Income tax refunds are paid in the order in which the tax returns are filed. Priority is given to taxpayers aged 60 or over, especially those over 80; those with physical or mental disabilities; those with serious illnesses; and taxpayers who earn a higher income from teaching.
In total, the IRS provides seven refund batches, between the months of June and December. To be taken from last year.
According to official information, the 2019 Income Tax refund schedule is as follows:
1st batch: June 17th;
2nd batch: July 15th;
3rd batch: August 15th;
4th batch: September 16th;
5th batch: October 15th;
6th batch: November 18th;
7th batch: December 16th.
In other words, to find out when you will receive your refund, simply check which batch you fall into.
Who has already received it?
Only those who are scheduled in the calendar above need to meet all the requirements contained in the income tax declaration rules.
Who will receive?
Those who comply with the main rules for income tax refunds must be aware of the release of batches for income tax refunds by the Federal Revenue Service.
From June to December, seven batches are released.
You can also use Receita fone, by calling 146, to obtain information, or download the Receita app to your cell phone and monitor the release of batches.
The Federal Revenue website also provides a service where taxpayers can register their number and receive an SMS as soon as their refund is released.
The amount of the income tax refund is adjusted according to the Selic rate. As soon as it is made available to the taxpayer, the deposit is made into the bank account indicated by you when making the declaration.
IR 2020 has been postponed
Attention, the deadline for filing the Income Tax return for individuals has been extended by two months. The announcement was made by the Ministry of Economy. The 2020 IR declaration, calendar year 2019, which would end on the 30th, may be carried out until June 30th. What is the reason for this change?
Due to the current Coronavirus crisis, the IRS agreed to extend the deadline after hearing reports from taxpayers, claiming difficulties in obtaining documents from the company or obtaining receipts for deducting expenses.
The IRS has announced that due to the postponement of the deadline for filing the 2020 income tax return, the deadline for crediting refunds will also be changed, but there is no set date yet. Therefore, it is still officially wise to wait for the new calendar for this year.
How to check your 2019 income tax refund?
The IRS also provides an application for tablets and smartphones, which makes it easier to consult Income Tax declarations and the status in the Individual Taxpayer Registry – CPF.
With it, you can directly consult the Federal Revenue Service databases for information on the release of Income Tax refunds and the registration status of a CPF registration.
The refund will be available at the bank for one year. If the taxpayer does not withdraw it within this period, he/she must make a request, through Internet, using the Electronic Form – Request for Refund Payment, or directly in e-CAC, in the DIRPF Processing Extract service.
If the amount is not credited, the taxpayer may go to any Banco do Brasil branch or call the Call Center at 4004-0001 (capital cities), 0800-729-0001 (other locations) and 0800-729-0088 (special telephone number exclusively for the hearing impaired) to schedule the credit to a checking or savings account in their name at any bank.
Final considerations on income tax
We have put together some practical tips and give some examples of what to do with your income tax refund:
On pay your debts: Anyone who has debts should make paying them off a priority. We know that debts generate interest, can tarnish your name and compromise your credit score;
Save: the second option is to save all or part of your money and start a savings fund. If you are already debt-free, having this money set aside for any emergency will help you remain a good payer;
Investing: for those who are already debt-free and have a “heavy” savings account, the best option is to pool the money from your income tax refund and your savings to invest. Do some simulations on our website. calculator!
Obviously, to do this you need to know a little about the financial market. But nowadays it is possible to count on safe investment options with a regular return.