The anticipation of Income Tax Refund It is a procedure that can happen.
However, for customers to request this advance payment, it is important to pay attention to the institutions' rules. There are several banks and financial institutions that carry out this procedure.
What is Income Tax Refund?
This Refund is a common procedure among Brazilians, however, we have to be careful, as the credit line to anticipate the refund has interest of 1.78% per month.
At Banco do Brasil, Bradesco, Itaú and Santander, customers can refund up to 100% of the amount, at Caixa this ceiling drops to 75%.
There is also the issue of maximum and minimum value, customers must respect the contracting deadline.
The refund money is the equivalent of a deduction in income tax collection for individuals.
In other words, it is important to pay attention because the refund value follows the Selic rate interest.
Payment is made in batch, which always starts in May and the Selic rate correction can vary from 0% to 3.14%.
What does the law say about Restitution?
The Tax Law valid for the National Tax System, we can consult LAW No. 5,172, OF OCTOBER 25, 1966, with law 9,779.
Brazilians who receive amounts of R$ 2,244, R$ 2,076 and R$ 2,152 can “cut” the queue for an income tax refund.
How does anticipation happen?
The taxpayer must make the request at an authorized banking institution. At Banco do Brasil, Bradesco, Itaú Unibanco and Santander banks, just access the digital channels. For Caixa Econômica Federal customers, it is necessary to go in person.
Customers are required to undergo a credit assessment. If the loan is released, then the amount will be added to the account on the same day.
At Banco do Brasil, the payment limit occurs in January 2023, for Itaú and Santander in December 2022, at Bradesco in September 2022.
Understand the payment schedule for IR refund, for individuals:
- 1st batch: May 31st;
- 2nd batch: June 30th;
- 3rd batch: July 29th;
- 4th batch: August 31st;
- 5th batch: September 30th.
How can we receive the value?
After 2022, income tax refunds can be made via PIX, if necessary, we can change the refund account.
To avoid conflicts, the declaration must be corrected. To do this, just access the “Consult and change account for refund credit” service, within the My Income Tax system, on e-CAC.
If the bank details are not correct, the amount is returned to Banco do Brasil and withdrawn within a period of one year.
After one year, the Refund returns to the Federal Revenue Service.
Conclusion
Therefore, if you intend to anticipate your Income Tax refund, pay attention to the rules of each financial institution.
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Mainly in relation to the percentages released to taxpayers, we also have to compare the loan rates from each institution.