Income statement It started on April 11th. Approximately 22 million taxpayers must This year it announces its corresponding returns for fiscal year 2022. When submitting the permit, it is important to avoid mistakes so that the treasury will impose a fine, but there are other boxes in the draft must be reviewed.
the total, There are 1,916 funds on the income statement, so it’s easy to confuse it with some or overlook others that may prevent you from coming up with the best possible outcome.
family status boxes
As a general rule, you should first verify that the data you are accessing is a file Website rental application Get it right. Once in the system, check the personal and family data because in these boxes you can get some discounts depending on your situation.
These boxes The boxes are from 75 to 87, which corresponds to minor children up to 25 years of age. In addition, squares 90 through 97 are used to include grandparents over the age of 65 and people with disabilities who live with you. When these are filled in, the Personal and Family minimum squares are automatically completed. Minimum descendants are in boxes 0513 and 0514, while minimum descendants are in boxes 0515 and 0516.
Work performance should also be reviewed. These can be reviewed on Box 0112 which denotes “Total Income Calculated”, which is the sum of squares 0003, 0007, 0008, 0009, 0010 and 0011. Income from economic activities that appears in 0179 squares.
Deductions and payments to the account
In the case of both employees and the self-employed, advance deductions are made for the IRS, either on payroll in the first case or with Form 130 in the second. Companies also report deductions on a document they send before the income statement filing period begins. All this can be verified between Boxes from 0596 to 0609.
Tax deductions and deductions
Reductions serve taxpayers to reduce the tax burden. Although there are different regional deductions that each taxpayer must check according to the area in which they live, there are other deductions at the national level that are reflected on the income statement draft in all cases.
Discounts on contributions and contributions to social welfare schemes, such as pension schemes: boxes 0462 to 0469
Deduction of investments in new or newly established companies: fields 0711 to 0714
Principal residence rent deduction: Boxes 0715 to 0721
Contributions to priority care activities: Funds 0722, 0723 and 0724
Affiliation fees and contributions to political parties, federations, coalitions or electoral groups: Box 0725
Deduction for investment in habitual residence: Boxes 0698 to 0710
Assignments for church or social causes
It is common to see advertisements on television in which various organizations request that an x be placed in favor of social causes or religious organizations request that an x be placed in favor of the Church. In this case, the one you designate does not directly affect the outcome of the advertisement, but is used for the taxpayer to decide or know where part of their income goes. Box Church is No. 105 and Social Causes is No. 106. You can select both, one or none.
Income from movable capital
Income also includes earnings obtained from interest from bank accounts, fixed income securities, bonds, liabilities, dividends, and capital gains obtained by transferring marketable securities. All this information appears in between boxes from 0026 to 0041.
income statement result
Finally, the income statement result appears in box 0610. There, the taxpayer will be able to check whether it will be paid, when the result is positive, or refunded, when the result is negative. It is called the differential share, and other deductions can be applied to it, such as the maternity deduction, which changed this year in Boxes 0611 and 0613.