these are the consequences of not filing the tax return on time

The Treasury does not forgive: these are the consequences of non-payment of the income tax return

The 2020/2021 tax declaration campaign is coming to an end and the Spaniards have only one day in advance to submit their file. However, last Friday was the last day to submit returns which have direct debit as an entry method and this Tuesday is the last day to request a prior appointment for telephone support or at the offices of the Tax Agency. Therefore, the late ones must hurry, if they do not want to be fined by the Treasury.

The body has a total of 4 years to revise the personal income tax, which starts from the last day on which the submission of the declaration is voluntary. So that the Treasury will have until 2025 to review all the efforts of this campaign. If during this time the tax experts of the institution find that someone should have filed the declaration and did not do so, a request will be sent to them. Likewise, a sanction procedure will be initiated, which will have different consequences depending on whether the tax administration has gone out to pay or to return.

‘The Letter of Fear’

In the event that the income statement comes out to pay and the Treasury requests it, the affected party will have to pay the result and a penalty. According to the tax specialists of the TaxDown platform, the sanction consists of the payment of between 50% and 150% of the total debt, a payment which can increase if the Treasury considers that it has suffered a financial loss or if it has already been damaged. product. on other occasions, the agency alerts you through extensive correspondence, in language full of legal and tax details that could be complex for most taxpayers.

On the other hand, there are people who go out to return them and do not present it, whether out of ignorance or out of simple laziness. From TaxDown it is reminded that this practice also entails a penalty, which could reach 200 euros. In addition, the return will be less and even it may even go out to pay.

Be faster than Hacienda

However, there is a way to mitigate both penalties as much as possible and that is to submit the return before the Treasury sends you the request. If a person files the return after the deadline and goes out to pay, there will be an additional charge depending on how long it took to file it. So that if sent within the first three months, the surcharge will be 5% interest. This percentage will increase over time, so if it takes between three and six months it will be 10%, if it is between six and twelve months, 15% and 20% if it exceeds twelve months.

En el caso de que presents a destiempo y salga a devolver, estas personas tambin tendrn que pagar una multa that will ascend to 100 euros, aunque esta cantidad will be reduced to 75 euros, if no recurre el resultado y la persona paga on time.

For all those people who were forced to file the return after the deadline, the tax experts at TaxDown remind them that the platform simulator is active all year round. Even if they will not be able to escape some sort of fine from the Treasury, they will be able to present their personal income tax knowing that they have applied all possible deductions, i.e. save as much as possible .

“At TaxDown, we are ready to provide tax support to all those people who have left the filing of the return until the last day, and thus avoid the penalties of the Treasury.” says Enrique Garca, CEO and co-founder of TaxDown, and adds that “after June the application will remain open for those who did not arrive on time, the most important thing is that obligated taxpayers show up before receiving tax notification, in order to avoid more severe fines.

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