Income Tax OFFICIALIZES the calendar for submitting the declaration; check the dates

The Federal Revenue published the 2024 Income Tax calendar, establishing the period for submitting declarations. Check all deadlines.

Income Tax is a mandatory federal tax for individuals and legal entities that have income in Brazil. The tax is calculated on the taxpayer’s gross income, with deductions for deductible expenses and exemptions provided for by law.

Income Tax payment can be made online or in person. The deadline for submitting the Annual Declaration must be respected. Failure to pay tax may result in fines and interest.

Continue reading this article to check the new Income Tax deadlines in 2024.

Check the 2024 Income Tax deadline – Credit: @jeanedeoliveirafotografia / pronatec.pro.br

Income Tax Calendar 2024: official deadlines for declaring

Income tax season is approaching, and with it, the need to be aware of deadlines and changes to the rules.

The Federal Revenue Service recently released the 2024 Income Tax calendar, officially marking the deadlines for submitting the declaration.

This year, the submission period begins on March 15th and runs until May 31st, offering taxpayers a period of two and a half months to comply with their tax obligations.

The base year for the declaration is 2023, requiring taxpayers to organize and declare income received in the last year.

Delays in delivery can result in fines and interest, reinforcing the importance of complying with the established schedule.

Important updates to the IRPF table

A relevant novelty for this year is the update of the Income Tax table, frozen since 2015.

The changes bring relief to many taxpayers, raising the exemption limit for those with an average monthly income of up to R$2,112 in 2023, previously set at R$1,900.

For those who receive up to R$2,640 per month, the salary discount was adjusted to R$528, automatically qualifying this group for exemption from the new tax payment.

The IRPF progressive table was updated with the following criteria:

Workers who receive from R$ 2,212.01 to R$ 2,826.65: rate of 7.5%, without discount of R$ 528. Workers who receive from R$ 2,826.66 to R$ 3,751.05: rate of 15% .Workers who receive from R$ 3,751.06 to R$ 4,664.68: rate of 22.5%. Workers who receive more than R$ 4,664.68: rate of 27.5%.

Implications and tips for the declaration

Income tax season is a critical period for many Brazilians, requiring organization and attention to detail to avoid errors and possible sanctions.

It is vital that taxpayers prepare in advance, gathering documents and supporting documents necessary for the declaration.

This year, the update to the IRPF table brings a significant change, easing the tax burden for a considerable portion of the population.

However, it is essential to be aware of the applicable rates and ensure that all income is declared correctly to avoid future problems with the IRS. Preparing for your Income Tax return requires patience and precision.

Taking the time to understand changes in tax legislation and organize your financial information can make a big difference, ensuring an error-free return and peace of mind throughout the year.

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