Whether due to a lack of attention, a mistake or a lack of documents, one of the most traditional obligations of Brazilians can end in a headache. Instead of receiving a refund, the taxpayer may be required to re-file the personal income tax return and provide additional accounts to the tax authorities. In the worst case, the IRS can charge a fine of up to 75% of the tax owed.
With the deadline for delivery, which begins this Monday (7), goes until April 29, the income tax declaration requires care. Last year, 869,300 taxpayers fell into the fine mesh, out of 36.8 million declarations sent. The main reason was the omission of income, with 41.4% of occurrences, followed by the absence of proof of direct debit, responsible for 30.9% of the declarations retained in 2021.
According to lawyer Edemir Marques de Oliveira, among the income most likely to cause problems are rental income and capital gains from the sale of real estate.
Regarding deductions, the lawyer advises the taxpayer to require an invoice and keep all receipts for deductible expenses, such as education and health. Finally, the lawyer advises the taxpayer to monitor the processing of the declaration, informed via the e-CAC. In the event of a problem, a corrective declaration must be sent as soon as possible.
Discover the main instructions to avoid errors and omissions and fall into the net:
Be transparent with the federal tax authorities and declare all income received during the previous year, as well as prove all expenses that generate a deduction;
Check the declaration before submitting it to avoid filling errors;
Identify operations that do not occur frequently, to avoid missing data. Among these transactions are the purchase and sale of goods above R$5,000, which can generate capital gains;
Avoid including dependents in two claims;
Include dependents’ own income, such as a child receiving a pension from an ex-spouse;
Monitor the processing of declarations after delivery and rectify inconsistent or omitted data as soon as possible.