Validate Invoices by February 25: How to Maximize Your IRS Refund

First of all, it is important to communicate the composition of the household by December 31, 2021. This is important to confirm (or indicate) the marital status, the children's NIF, the IBAN and also the alternate residence regime of parents with children joint custody and expense sharing percentage. If nothing is reported until the 15th of February, the Tributary and Customs Authority (AT) automatically assumes the data for the previous year, in this case 2020.

And there is still a set of communications to be made with the Finance Portal until February 15, 2022 to be able to enjoy the tax benefits and maximize the reimbursement of the IRS 2022, writes Público:

• Send proof of attendance at higher education: in the case of parents with working-student children with income up to 2194.05 euros (5 times the IAS). Thus, these incomes will not count for the purposes of the IRS of the household;
• Indicate an educational establishment in the interior or in the autonomous regions to benefit from higher ceilings of deductions from the collection of education expenses (40% instead of 30%) and the respective total expenses incurred;
• Notify a change of residence to the interior to benefit from an increase in the deduction from the IRS collection of charges for renting a house or room in the interior of the country (the limit increases to 1,000 euros for 3 years instead of 502 euros). In order to do so, they must specifically fill in tables 6C1 and 7 of Annex H of the Model 3 declaration;
• Landlords must report long-term contracts to benefit from a lower IRS (less than 28% of the autonomous rate).

It will be possible to verify and validate invoices on the e-invoice portal until February 25, 2022. If there are invoices that are not yet registered on the portal, you must enter them manually. And you must also confirm that all invoices are entered in the correct sector of activity to guarantee the highest possible refund.

This is because the deduction percentages differ by category:

• General expenses: the maximum individual limit is 250 euros and for a couple 500 euros (ie a maximum of 35% of these expenses are deducted);
• Health: the deduction is 15% up to a maximum of 1,000 euros and some must be duly justified with a medical prescription;
• Education: expenses are deductible by 30% up to a maximum of 800 euros;
• Commercial establishments: 15% VAT deduction for total invoices and 100% VAT for expenses with social passes, with a maximum individual limit of 150 euros (or 250 per household);
There are also other invoices that you can consider related to housing expenses that will further increase the reimbursement amount:
• House rent: 15% deduction up to a maximum of 502 euros;
• Interest on mortgage loans contracted until 31 December 2011: maximum ceiling of 296 euros;
• Property rehabilitation: deduction of up to 30% of expenses up to a limit of 500 euros;
• Nursing homes and/or residences for the elderly: 25% deduction up to 404.75 euros.

After all, if you submit the individual IRS 2022, reaching the maximum ceiling of the expenses mentioned above, including the rent of the house, you can receive a maximum refund of 2,702 euros. In the case of a couple, this amount rises to 3,052 euros.

Until March 15, 2022, the Tax Authorities will provide information on the total amount of deductions from the IRS collection. And if you find any incorrect information at this stage of calculating your IRS 2022, you can file a claim with the AT between March 16 and 31, 2022. But note that you can only claim deductions from the collection for general family expenses and to the benefit due to the invoice requirement determined by the AT.

IRS 2022 Consignment until March 31

Taxpayers have until March 31, 2021, to choose who they want to consign the IRS or VAT to. For this purpose, the Finance Portal will provide a list of entities.

IRS 2022 submission from April 1st to June 30th

Having gathered all the data and documents, it is time to submit the annual income statement to the Finance Department. And it can be done between April 1 and June 30, 2022. Now, it is necessary to submit the IRS 2022 online, on the Finance Portal page. And for those who have difficulties in doing so, AT provides a set of digital service locations assisted in parish councils and even Finance services.

Source: idealista