Act Early: Submit Your 2024 Income Tax Return Today!

Por , 9 de abril de 2024.

Greetings! If you’re among the many who tend to delay filing their income tax until the deadline looms, consider this a friendly nudge. The Federal Revenue has released the 2024 IRPF software as of March 12th, and you have until May 31st to submit your return.

Procrastination is common with tax returns, but staying current with your tax obligations is crucial to avoid any future complications. If you’re unsure about the filing process or the recent updates, we’re here to provide the necessary guidance.

Key Updates for the 2024 Tax Year

Significant changes have been introduced this year in the income tax regulations. Notably, the income threshold requiring a tax return has been raised to R$ 30,639.90 for the 2023 fiscal year, exempting nearly 4 million taxpayers from the need to file.

Moreover, new regulations have been implemented for declaring investments in funds and offshore entities as per Law 14,754, enacted in December 2023. Taxpayers must now report any assets held through foreign trusts or entities, and those wishing to reassess their overseas assets at market value.

The ‘My Income Tax’ program has also undergone changes, particularly concerning cryptocurrency declarations. Taxpayers must now provide detailed information about the cryptocurrency type and the custodian’s CNPJ.

Refund Priorities and Innovations

The refund process continues to prioritize vulnerable groups such as seniors and those with severe health conditions. Additionally, using the pre-filled tax form or opting for refunds via Pix can expedite your refund process.

Benefits of the Pre-filled Tax Form

The pre-filled tax form, introduced in 2023, simplifies the filing process by automatically including details like property purchases, charitable donations, and refundable income. It’s essential, however, to verify and confirm all pre-entered information before submission.

Third-Party Access to Your Tax Form

A new feature allows taxpayers to grant access to their pre-filled forms to another individual, which can be particularly beneficial for dependents or family group filings. This access can be authorized for up to six months and can be revoked anytime.

To conclude, don’t delay your 2024 Income Tax submission. Avoid the rush and potential issues by filing now. If you need assistance or have any questions, our team is ready to help. Remember, we’re all in this together!

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