The income statement is a tax process that you will have to go through every year. Despite what many users, you will not only have to answer for the income derived from work. But also others generated from investments or even from the income of banking products (high-income accounts, fixed-term deposits or any savings program). All these charges must be reflected in the income statement for each year. You may be able to manage this process yourself or, on the contrary, need the help of a manager or a professional to help you prepare this direct tax.
For you to assimilate all the concepts, nothing better than to understand what the income statement consists of. Well, it is basically an administrative procedure that you have to do to regularize your tax situation. In some situations it will not require much effort, but in other cases it will be a complex process that will require a deep knowledge of the tax measures imposed in each fiscal year. Because you cannot forget that all taxpayers have to regularize the fiscal situation. Because if not, you are exposed to harsh penalties.
On the other hand, you should know that the Personal Income Tax (IRPF) is a so-called direct tax that is generated by the earning income. In some cases, due to income from an employee and in others from their own account. Also for the capital gains obtained from the equity of the interested parties. That is, sale or operations with the sale of real estate. But also by capital income or even by social benefits, as for example in the cases of unemployment or retirement benefits.
Step one: calendar
Of course, you should be aware of the deadlines and dates of the taxpayer's calendar in each fiscal year. Not surprisingly, any late payment can have perverse effects on your personal interests. This is one of the main reasons why you will have no choice but to inform yourself about this important part of the process. On the other hand, and with respect to this fiscal period, you must take into account certain measures that will be applied to the personal income tax that will come into effect each year.
Another aspect that is of great importance in relation to personal income tax is a so-called direct tax that is generated by obtaining income. With an impact on income at work, but also derived from the investment that you have done in each exercise. To the point that they can balance the accounts that you will have to render accounts with respect to the Treasury.
Second step: request the draft
The next phase of this tax process is based on deciding if you are really interested in filing the declaration over the Internet or on the contrary, in person at the AEAT offices. On the other hand, also this year you have the option of formalizing it through the mobile application that has been developed by official bodies.
Regarding the first of the models, you should bear in mind that you have three strategies to promote it in our draft. They consist of using the electronic certificate or by means of the PIN code. In either case, once you have reviewed the draft, you will have two options to finalize this tax process.
First, confirm it automatically and proceed to its presentation and on the other hand, prepare your own statement. They are procedures that will not be very complex to carry out and that are available to all taxpayers. So that in this way, you can comply with your tax obligations correctly and in the corresponding deadlines.
Third step: how to make payments?
The most important moment of the income statement has arrived and it is the one that has to do with the self-liquidation of your personal accounts. And it is the one that at the end will indicate if you have to pay or on the contrary you have to pay an amount in your checking account. Well, in this scenario you will not have ask you the two scenarios of these tax calculations. In this sense, if the next income statement comes out to be returned, the Treasury does not usually take more than a month to deposit the amount to the bank account provided. In any case, the term should not exceed six months since it would have a surcharge that should also be paid to your bank account.
On the other hand, there is the opposite scenario. That is, the most damaging to your interests is that you have to pay the Treasury. Well, you can do it in a single payment or split it in two times. To use this formula, you simply have to check the fractional payment box on the return. As a consequence of this scenario, 60% will be paid in the first payment of the total amount, while the second will take place during the first week of November, with the payment of the remaining 40%.
Step four: what if there is an error?
Nor can you forget that you can make a mistake in the income statement. It is something that can happen and therefore you must contemplate this possible scenario. Where it will be completely necessary that if you notice any kind of error in your income statement, it is communicated as quickly as possible to the tax authorities. In any case, two scenarios can be presented within this context.
On the one hand that you are the harmed of the error and in which case you must submit a request for rectification of self-assessment. You will have a period of up to four years to formalize this situation and to pay the amounts that are the subject of the claim.
And on the other, that the Treasury is the great victim of your mistake when making the income statement. If this is so, you will have no choice but to perform a supplementary declaration in which you must include the mistakes you have made in this tax operation. But be very careful, do it very quickly as they can fine you and the penalties can greatly harm your personal interests.
In any case, it is highly recommended that you keep all the papers of the last four fiscal years. Because at any time they can review any of the income statements that you have made. And of course, the best defense you have is the support of the documents on which you have based the calculations of the liquidation of your personal and professional income. It is always better to be cautious about any incident that could happen to you from now on. Don't forget it if you don't want to have any problems with the tax authorities at any time.
FATHER program
On the other hand, you cannot forget that since last year the Parent Program has been replaced by Renta Web, to make the declaration through the Internet. It is another option that you have at hand and that allows you to formalize it online, comfortably from home or from anywhere else. In any case, you will have a calendar to carry out this task and that you should review so as not to take any negative surprises from now on.
- Home: You can submit the draft of the Income Tax return online until the last week of June in each fiscal year. However, if the result is to be returned, you will have a small extension until the first week of July.
- If you want to change or modify some of the data or amounts that are incorporated in your draft, you can do it from the Tax Agency's own offices. Or even if it is your wish, by means of a previous appointment that you can demand until the last days of June.
- Confirmation: on the other hand, you can also request the draft of the rent by phone, through the numbers 901 121 224 (24-hour automatic) and 901 200 345 (Monday to Friday, from 9 a.m. to 21 p.m.). It will be a phase of the process that you can solve in a very short space of time so that you can make your next income statement with full guarantee as to its result.
From this moment on, you will only have to fill in the result of the declaration. Whatever the operation, that is to say to return or that you have to deposit an amount in your checking account. Where the main novelty that you will have this year is that this administrative procedure can be carried out through a application from your mobile. With a much more flexible management of all the steps that we have indicated above. The tax bodies emphasize that the application will be "an agile channel" that "serves as a new channel of communication. And that is especially aimed at a user profile that is not used to the use of personal computers.
The plan will also include the sending of letters to a total of 860.000 taxpayers to urge them to use the telephone service and expedite the procedures through prior appointment.