Imagine that you start working, whether as an employee or self-employed, and July 1 arrives. And at that moment (or later), you realize that You have not submitted the Income Tax Return. Do you know what happens with Income after the deadline?
This situation, although it may seem impossible due to the many news items that appear in the media reminding us of the deadline, can actually occur. There are many who They submit the declaration after the deadline and this implies a series of consequences that you should take into account. We talk to you about all this.
When is the last day to submit the Income Tax?
Usually, the Last day to present the Income Tax is usually June 30. However, there will be years in which that date is extended until July 1, or 2, depending on what weekend the 30th falls on (since at that time the date is extended until the next work day).
Obviously, it does not start and end that day, but the campaign usually starts in the month of April and runs until that date in June. But this does not exempt someone from ending up submitting the Income tax after the deadline.
Can the Income Tax be submitted after the deadline?
Once you are aware that you have missed the deadline, you will most likely wonder if you should submit it or not. Note that, Even if it is late, you can submit the Income Tax after the deadline. Of course, you are not going to escape a penalty for doing it wrong. But this will be different based on whether you present it voluntarily (that is, you yourself realize the error and present it); or it is the Treasury that has to require it from you.
Scenarios you face for submitting your income tax after the deadline
Let's put ourselves in a situation. You have missed submitting your income tax return on its corresponding date. And you have realized. Several scenarios can occur here:
You have realized, you have to pay and you present it after the deadline
The first scenario is the one that can happen to many: you have gotten confused and in the end you have not submitted the declaration in a timely and appropriate manner. You know that, even after the deadline, you can submit it, so you do it.
What is going to happen to you? Well, to start, you are going to have to face a "surcharge", That is, you will have to pay a little more than what you were supposed to pay in the declaration. How much more will depend on the time it takes you to present it (hence you should hurry to do it). In general, 1% is added for each month it takes to submit it.
You have realized, you have to pay, and the Treasury demands it from you
Another scenario in which you may find yourself is that, having realized it, you do not deliver it and a notification from the Treasury arrives by Post urging you to submit the declaration. You've already messed it up there.
And it is that, to begin with, You will have a much higher surcharge, between 50 and 150% of the amount you must pay (with a 30% reduction if you accept the Treasury's decision and do not appeal; and an extra 25% if you pay in the voluntary period).
In addition, you may face a review of the declaration data, so if you have entered something wrong, there may be more sanctions. This does not always happen, you know that inspections are usually done at random, but it may be the case that, as there are fewer Late Income submissions, it may be your turn.
You have realized, it comes back to you and you present the Income tax after the deadline
That the Treasury does not like to return money is something we all know. Therefore, when the error is on your part, it is not that the Treasury is going to take away your right to recover the money; No. But you will have to carry a fine of 100 euros for submitting the income tax after the deadline.
In other words, you will get less back for not having paid attention to the deadline to present it correctly.
You have realized, it comes back to you and the Treasury has already claimed it from you
Just like before, you've messed up. This situation is common in people who knew about the income tax return but thought they were not required to file it.
And what happens in this situation? Well, here the penalty is greater, because You will have to pay a 200 euro fine. And that, when it is to be returned, and the amount is small, may imply that it changes from refund to income in favor of the Treasury.
For example, imagine that they have to refund you 100 euros. Since the fine is 200, you will have to pay the other 100 out of pocket for not having submitted it sooner.
How the Income is presented after the deadline
You should know that it is mandatory to present the Income Tax, even outside the usual deadline. Now, the way to do it no different from the way it would be done normally (that is, meeting the established deadlines). As you register online, the date you did it will be reflected there and when it comes to reviewing your program, it will execute the sanctions, surcharges or fines that you will have to face. In fact, it is more than likely that you have already added those surcharges and penalties to the declaration you present, which can later increase if an inspection is required.
Once you present it, The six months that the Treasury has to return the money will begin to run (in case this is the one who owes you money). If you are the one who must pay, If you don't have enough money you can split the payment, but keep in mind that if you don't pay, there will be more surcharges and even penalties.
As you can see, late income is not the best thing you should do. Especially if you don't want to have to face sanctions or fines for not doing things in a timely manner. Has that ever happened to you? We read you in comments.