IT STARTED! 1st batch of Income Tax refund falls into Brazilians’ accounts

A IRS will begin payment of the first batch of Income Tax refund in May. The amounts will be deposited in the bank accounts indicated in the declaration. Keep following to find out how to find out when your refund will be.

The municipality foresees five regular and five residual lots. The first payment will be made in May, and the rest will occur until February 2025. Income Tax refund is granted to taxpayers who overpaid taxes.

According to IRS, 21.47 million of people have already sent their declarations of Income tax for the base year 2023. The deadline for submission is May 31st, so it is important not to leave it to the last minute.

Of this total, 72.8% of taxpayers are entitled to Income Tax refund. This equates to approximately 15.6 million of people waiting for the refund of overpaid amounts. Anyone who sent the declaration without errors or omissions should receive the refund without any problems.

The first batch of Income Tax refund will be paid at the end of this month, coinciding with the deadline for submitting the declaration. Below you will find the refund calendar. In this link, I present you a practical guide to filling out your IRPF 2024 declaration correctly and efficiently.

Income Tax refund calendar

Priority groups for Income Tax refund

According to the IRShave priority in receiving the Income Tax refund 2024the following groups:

• Elderly people over 80 years old;

• Elderly people between 60 and 79 years old;

• Taxpayers with any physical or mental disability or serious illness;

• Taxpayers whose largest source of income is teaching.

Next comes the group of taxpayers who opted for the pre-filled model and the refund by Pix. In the latter, however, the instant payment method is only valid when the key is the CPF of the taxpayer. Keys Pix that use email, phone or random code cannot receive a refund.

Finally, when all these taxpayers who meet the criteria in the list above receive their refunds, the IRS will return the tax collected in excess from other citizens.

Income Tax refund consultation

To check if it was included in the next batch of IRPF refund 2024the taxpayer must wait one week before the payment date and follow this step by step:

1. Access the Federal Revenue website and click on “My Income Tax”;

2. In the “Services” option, select “Consult my refund”;

3. Then “Start”;

4. Enter: CPF of the holder, date of birth and year;

5. Confirm.

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