According to the Federal Revenue Service, the deadline for taxpayers who want to receive their 2024 Income Tax refund in the first batch ends at 11:59 pm this Friday (10/5). According to the agency, this is the processing date for the first wave of payments.
To date, the IRS reported having received more than 22 million declarations, of which around 16 million (71.9%) are entitled to a refund.
However, the agency highlights that shipping on time does not mean a guarantee of receipt of the first batch. Payment will be made in the order of priority contributors. Are they:
- 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.
Also according to the Federal Revenue, this Friday is the last day for those taxpayers who want to opt for automatic debit, whether to pay the first installment of the installment or for the total amount in cash.
Income Tax refund payment schedule
Payments of IR 2024 refunds will begin on May 31 and will be made in five batches, according to information from the Revenue. The deadline for submitting declarations began on March 15th.
- 1st batch: may 31st
- 2nd batch: June 28
- 3rd batch: July 31
- 4th batch: August 30
- 5th batch: September 30
Payment order
Taxpayers who have legal priority in receiving the refund are elderly people over 80 years old, followed by elderly people between 60 and 79 years old, taxpayers with some physical or mental disability or serious illness and those whose main source of income is teaching.
Next come payments for taxpayers who adopt the pre-filled model, or who choose to receive the refund via Pix (real-time transfer system).
From then on, according to Revenue rules, payment priority takes place on the date of delivery of the Income Tax declaration – that is, the sooner the document is sent to the Tax Authorities, the greater the chance of the taxpayer receiving an eventual amount of tax to be refunded on the first batches.
Who must declare:
- who received taxable income above R$30,639.90 in 2023. The value is a little higher than that of last year’s income tax declaration (R$ 28,559.70) due to the expansion of the exemption range since May of last year;
- taxpayers who received exempt, non-taxable or taxed income exclusively at source, the sum of which was more than R$200 thousand last year;
- who obtained, in any month of 2023, capital gain in the sale of goods or rights, subject to tax, or carried out operations on stock, commodity, futures and similar exchanges the sum of which was more than R$40 thousandor with calculation of net gains subject to tax;
- who was exempt from tax on capital gains in the sale of residential properties, followed by the acquisition of another residential property within 180 days;
- who had, in 2023, gross revenue in value more than R$ 153,199.50 in rural activity (compared to R$ R$ 142,798.50 in 2022);
- who had, until December 31, 2023, the possession or ownership of goods or rights, including bare land, with a total value exceeding R$800 thousand (compared to R$300 thousand in 2022);
- who passed to the status of resident in Brazil in any month and was in this condition until December 31, 2023;
- who chose declare assets, rights and obligations held by the controlled entity, directly or indirectly, abroad as if they were held directly by the individual;
- It has trust abroad;
- Want update overseas assets.
