What can I do if I have to pay in the Income Tax return?
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- 02 Jun 2022
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We entered the month of June and the deadline to present the 2021 Income is over . The campaign began on April 6 and ends on June 30. For all taxpayers, this is already a regular appointment every year and it is essential to carry out the procedure if they do not want to receive the corresponding sanction.
It is usual that when making the declaration the Administration returns what they have deducted from us during the year, but there are many cases in which the result is positive for the treasury and taxpayers must pay the Treasury . Unfortunately, citizens cannot always assume the payment of this debt and for those situations there are some alternatives with which to manage the payment.
What are the alternatives?
Payment deferral:
When we present the declaration through the Tax Agency's Web Income, there is the option to request deferment or installment of debts. The operation is carried out without having to justify anything to the Treasury unless the debt exceeds 30,000 euros, in which case we must demonstrate that we have financial difficulties. To request this option, you must check the "non-split" box when filling out the document and then select "other payment options".
Finally, we mark the "Acknowledgment of debt" box with a deferral request, and after signing and sending the declaration, all that remains is to click on the "Defer" button. But keep in mind that this alternative is not free since late payment interest is 3.75% and in the future the total amount that you will have to pay will be higher.
Split payment:
Another option is to split the payment. In this case there are no additional costs and all you have to do is point it out on form 100 of the declaration. Here the payment is divided into two installments: 60% is paid on June 30 and the remaining 40% on November 7. In addition, the Treasury offers several payment options: through direct debit, with electronic payment or in cash with a payment document at the bank.
It is important to remember that both solutions cannot be combined, so if you request the deferral you will have to pay the entire amount at once. Read More…
