It's time to start talking about the 2024 tax return, the main tax obligation that most taxpayers have in common.
With the 2024 tax return, for the purposes of determining the Irpef, the income produced in 2023 must be declared.
Consequently, the deductions and allowances to which you are entitled must refer to the expenses incurred in that tax year (2023) .
The tax reform, currently being defined, promises many important changes for 2024 for the tax return, which is being simplified.
Furthermore, there is a single deadline for the different models and various innovations regarding deductions and deductions.
Tax return: 2024 guide What is the 2024 tax return Who needs to file the 2024 tax return? Who does not have to file the 2024 tax return? Income to be indicated in 2024 Deductions and deductions in the 2024 tax return How to present the 2024 tax return The 730 2024 pre-filled online for the tax return Deadline for the 2024 tax return Irpef rates for the 2024 tax return What is the 2024 tax return The tax return is the formal requirement necessary to communicate to the tax authorities the income produced in a specific tax year and the IRPEF amount due.
In the 2024 tax return, the income produced in the year 2023 is communicated.
The Irpef, on the other hand, is the income tax of natural persons.
This is a "tax" to be paid through self-assessment.
This implies that taxpayers, every year, must independently declare (also with the help of professionals, such as CAF and accountants) the income produced and pay the tax by applying deductions, deductions, other concessions and the current rates (including additional ones) in the tax period to which the income refers.
Irpef is generally due for calendar years and each calendar year corresponds to an independent tax obligation.
However, there are cases in which it is possible to carry forward tax debts or credits exceeding the net tax to subsequent years.
To declare income for Irpef purposes, only the forms made available each year by the Revenue Agency, also called "compliant forms", can be used.
From the tax return, even in 2024, the following can arise: a tax debt (debt), i.e.
taxes due but not paid in the year 2023.
In fact, the tax return gives rise to the definitive registration of the sums owed by the taxpayer; a credit balance in favor of the taxpayer, who can obtain reimbursement of the sums or use them as compensation.
This happens when the taxpayer has paid more taxes during 2023 than is due or in the event that deductions or deductions lower or cancel the tax due for the year; a formal control activity and substantial assessment by the Administration, for example in the event that there are calculation errors or inconsistencies.
Who must submit the 2024 tax return? Article 3 of the Tuir establishes that the following individuals file their tax return in Italy: tax residents in Italy for income received wherever they are (at least 183 days a year, 184 in leap year periods); subjects tax resident abroad for income received in Italy.
Persons obliged to keep accounting records are always required to submit a tax return.
The tax return is also due if only income has been received deriving from the rental of buildings for which the dry tax rate has been opted for.
Spouses can file the tax return jointly.
There are also special cases to take into consideration.
In the event that the employer of the employee who received exclusively this source of income has recognized deductions from income and/or tax deductions not due in whole or in part, there is an obligation to present the tax return .
You are obliged to submit a tax return even if the employer has not applied the withholding taxes for regional and municipal surcharges.
In this case the obligation ceases if the amount to be paid is less than 12 euros.
Domestic workers are also always required to submit a tax return since in their case, even if they only work as an employee, the employer is a natural person who does not act as a tax withholding agent.
In this case, in fact, Irpef withholdings are not applied to the pay slip (but deductions from employment and any ex-Renzi bonus due are not recognized either).
Therefore, domestic workers pay taxes exclusively when filing their tax returns.
Furthermore, it is recalled that article 11, paragraph 2-bis, of Presidential Decree no.
917/86 provides that Irpef is not due if only land income (land and/or buildings) for an amount contributes to the formation of the overall income.
not exceeding 500.00 euros.
This implies that if I have an employment contract with a single employer throughout the year, the latter applies the withholdings, deductions and deductions correctly, applies municipal and regional surcharges and accumulates land income of less than 500 euros not I am obliged to submit the declaration, although there are more than one sources of income.
When verifying the 500 euro limit, land income from properties for which only IMU is due must not be taken into consideration (AdE circular 5 of 2013).
Who does not have to file the 2024 tax return? Not all taxpayers are required to file a tax return.
Excluded from the obligation are subjects who have accrued: only income from employment or pension paid by a single withholding agent obliged to make withholdings (in this case the taxes were paid by the employer and not there is further income to be declared, for example land income).
It may be useful to present the declaration to claim deductions and deductions that the employer has not claimed, in which case you can obtain a possible refund; only employee income paid by more than one person, but only if the last employer has been asked to take into account the income paid during previous relationships and the latter has made the adjustment accordingly.
In this case, the exemption from the obligation is in force if the taxes to be paid do not exceed 12 euros; those who have accrued a total "Irpef income", net of the main residence and related appurtenances, not exceeding the No tax area are exempt from the obligation to submit the tax return; only income from buildings, deriving exclusively from possession of the main residence and any appurtenances thereof (garage, cellar, etc.); only exempt incomes, for example war pensions and some Inail incomes.
This category also includes compensation deriving from amateur sporting activities whose amounts do not exceed the No Tax Area; only income subject to withholding tax as a tax; only income subject to substitute tax (interest on BTPs).
Income to be indicated in 2024 In the 2024 tax return, income must be indicated: land income (land and buildings); of capital, defined in letter a), paragraph 1, article 44 of the TUIR, these are interest and other income deriving from mortgages, deposits and current accounts and other financial assets received outside the exercise of business activities; employee employment, including assimilated and pension income; self-employment; of business; different incomes, indicated in article 67 of the TUIR on a residual basis.
Deductions and deductions in the 2024 tax return We have seen which incomes are to be included in the tax return, these determine the tax base to which the Irpef rate is applied.
However, there are expenses that influence the determination of the tax due.
These are deductible expenses that must be subtracted from the tax base, or rather from the total amount of income.
Deductible expenses, on the other hand, must be subtracted after calculating the taxable base and the related tax and therefore directly affect the Irpef due.
The deductions due are numerous, for example building bonuses, social security contributions, health, funeral and veterinary expenses, interest paid for the mortgage, donations in cash to non-profit organisations, APS and ETS.
Except in some limited cases (health expenses incurred through the National Health Service), article 1, paragraphs 679 and 680 of Law 160/2019 provides that deductions are due exclusively on condition that the payments have been supported with traceable instruments provided for by the article 23 of Legislative Decree 241 of 1997.
read also Tax deduction and deduction: what are the differences? How to submit the 2024 tax return For the submission of the tax return, natural persons can use the PF Income form (now residual use from 2024) or the 730 form.
The deadlines within which to submit the 2024 return are unified to the September 30 for both models, both the 730 model and the Income model.
For correct compilation, those who use the Income PF model can use the RedditiOnLine Pf software, which allows the compilation of the model, the creation of the file to be sent electronically via the Revenue Agency's online services and the generation of the F24 payment form.
For entities other than natural persons, the following are available: SP Income model for partnerships; SC Income model for joint-stock companies; ENC Income model for non-commercial entities.
Furthermore, for those presenting form 730, it should be remembered that it is always necessary to complete the RW form of the Personal Income model in the event that the rules on tax monitoring must be applied.
Based on article 4 of Legislative Decree number 167/90, it applies to financial assets held abroad, which also includes the holding of a current account, for example to receive a salary from abroad.
The current account must be reported in the RW Framework when two thresholds are exceeded: Average annual amount of the current account exceeding 5,000 euros; Daily balance threshold equal to or greater than 15,000 euros (even for just one day in the year).
The 730 2024 pre-filled online for the tax return Among the various possibilities made available to the taxpayer there is also the online tax return: yes can access the pre-compiled declaration made available by the Revenue Agency online.
This prepares the pre-compiled form 730 using the data that flows into its database, for example those deriving from the employer/tax withholding agent's form 770, the data transmitted through the healthcare system and the deductible and deductible expenses made with payment instruments traceable.
Among the expenses already indicated in the pre-compiled tax return form there are funeral expenses, university expenses, social security contributions, expenses for building works that can be deducted and all expenses incurred with traceable payments that can give rise to tax breaks.
The taxpayer can access the pre-compiled form 730 and send it without changes, can modify the data, for example by inserting additional expenses, or can submit the tax return independently.
The pre-filled form 730/2024 can be accessed through the personal area on the Revenue Agency website with digital identity credentials: Spid; There is; Cns.
Please remember that the pre-compiled form 730 submitted without making any changes is not subjected to checks.
Tax return deadline 2024 In 2024 the calendar of tax deadlines changes, not only for the submission of tax returns, but also for all preliminary obligations.
The first important news is that the deadlines of 30 September for submitting the 2024 tax return for form 730, Personal Income Form and IRAP form have been unified.
However, as regards the other preliminary obligations with respect to the presentation of the 2024 tax return, the deadlines are as follows: transmission of health expenditure data to the Health Card System (STS), the first deadline is 30 September for the data of first half of the year and 31 December of the following year for expenses for the second half of the year.
By April 30, the Revenue Agency must make the pre-compiled form 730 available to taxpayers.
By 30 April the Revenue Agency must make the software available to taxpayers for completing the Isa Questionnaire.
For the 2024 declarations there are also important innovations for the use of the models, in fact the possibility of accessing the declaration with the 730 form is expanded, while the use of the Pf Income model is residual.
read also Goodbye to the Income model, what changes with the tax reform Irpef rates for the 2024 tax return As we have already mentioned, the tax return serves to have an adjustment of the Irpef due on the taxpayer's total income.
On the total income emerged, whether the 730 form or the Income form is presented, the Irpef rates are therefore applied based on the income bracket in which one falls.
The tax reform is working to reduce the current four rates and brackets into three, but there should be no confusion on this point.
It is true that the tax reform will lead to the reduction of Irpef rates, but this innovation must be applied starting from the 2024 tax year and, therefore, for the 2025 return.
For the 2024 tax return, referring to the income of the tax year 2023, the rates in force in 2023 and indicated in the 2022 Budget Law are applied.
The rates are in force in 2023 and applied to the 2024 tax return: income up to 15 thousand euros: Irpef rate 23%; incomes from 15,000.01 to 28 thousand euros: Irpef rate 25%; incomes from 28,000.01 to 50 thousand euros: Irpef rate 35%: incomes over 50 thousand euros: Irpef rate 43%.
Naturally, starting from the month of January 2024, the employer, or body that provides the pension, which calculates the withholdings and deductions due in each pay slip (or pension slip), is required to apply the new Irpef rates envisaged in the 2024 budget which are: 23% for incomes up to 28,000 euros; 35% for incomes above 28,000 euros and up to 50,000 euros; 43% for incomes exceeding 50,000 euros.
Also starting from the 2024 tax year, tax deductions will also change, in fact for incomes exceeding 50,000 euros an exemption of 260 euros will be applied, i.e.
you will be able to benefit from tax deductions for amounts exceeding this threshold.
read also Paycheck 2024, so the tax reform should increase salaries
It's time to start talking about the 2024 tax return, the main tax obligation that most taxpayers have in common.