Maximize IRS Reimbursement: The Dates To Remember, February through August | megaphone

Every year we have to keep accounts with the state. A process begins in February to benefit from the maximum possible reimbursement and thus not to lose the right to all deductions from the IRS.

Anyone already in the job market, whether on behalf of someone else or as a self-employed person, must file the IRS 2020 Income Statement in 2021. There are two important dates to be met this month.

February 15th

By this day, you must report in the finance portal all changes that have occurred in your household in the last year. For example marriage, divorce, birth of children or death of the spouse. If nothing changes, just check that the existing data is correct. If you do nothing, the last viewed data will be taken into account, which is included in the last IRS statement.

February 25

You have until that date to meet some essential requirements so that you can take advantage of all possible deductions. Therefore, you must confirm the personal expenses listed in the e-bill in the finance portal. If you have children, you must also confirm this. For the self-employed, the deadline for separating personal and professional expenses also runs until February 25th.

March, 15

Until March 15, the value of the amount of the deductions from the collection made by duly documented expenses is available on the finance portal. Please note that you can check these and other values ​​on your personal finance page, but not on the e-bill tab.

March 31

From March 15 to March 31, you can claim with the tax authorities any amount that you think is incorrect, such as in the case of general and family expenses. If you pay the IRS annually, you must “donate” part of your payment to a social solidarity institution for which you have a special affection by March 31st in advance, if you wish, stating the respective tax number for this order.

April 1st to June 30th

Typically, income statement filing starts similar to 2020 for all income categories. Note that you should check that your NIB is up to date, the sooner you file your return, the sooner you will be reimbursed. You will receive the refund you are entitled to by July 31st. If you are a final taxpayer, you will also be informed of the amount to be paid by that date. The voluntary payment usually runs until August 31st.

These are the dates that you should put on the agenda. Only then can you maximize your refund or “decrease” your payment.