With the deadline for submitting the Income Tax declaration coming to an end, many Brazilians are running around looking for the necessary documents to send to the Federal Revenue Service.

In addition to complying with tax obligations, many taxpayers also wait for a refund of the amount paid throughout the year. Therefore, those waiting for the release of the 1st batch of Income Tax refunds this year need to know who will be entitled to receive it. It is also important to know what criteria are used when selecting beneficiaries.

Before entering into the refund, it is important to know who must file the Income Tax declaration in 2023.

It is important to highlight that any Individual who meets one of the conditions set out in the Legislation must file a Tax declaration. Among them are:

Another group to pay attention to are employees who received social security, pension or retirement benefits in 2022 and had a taxable income greater than R$ 28,559.70 in the year. Furthermore, those who own properties worth more than R$ 300,000.00 and foreigners who stayed in the country for more than 184 days must also account.

Highlighting that, in addition to fulfilling tax obligations, filing an Income Tax declaration can offer benefits to the taxpayer. Example, such as the possibility of refunding amounts that were paid in excess during the year.

Income Tax Refund is a process that consists of the return, by the Federal Revenue, of an amount of tax paid by the taxpayer and which, for some reason, ended up being withheld in excess. Namely, this process is carried out annually, as a way of ensuring that there is equity among taxpayers who pay taxes.

For the refund to be possible, the taxpayer must submit the Income Tax declaration and must have the right to receive back an amount greater than what was paid. This right may arise from some situations, such as the incidence of deductible expenses, such as medical and educational expenses, or even due to the presence of dependents on the declaration.

When processed by the Federal Revenue Service, Income Tax returns are analyzed. Thus, if the taxpayer is entitled to receive the refund, the amount due will be transferred to his bank account. In fact, the process may take a few months to complete. Therefore, it is important to pay attention to the refund dates published by the Federal Revenue Service.

Income Tax is one of the most important obligations for Brazilians. Every year, millions of people dedicate themselves to gathering documents and filling out declarations to regularize themselves with the Federal Revenue Service. Therefore, for those who are entitled to a refund, the expectation of getting their money back is great.

Basically, these are taxpayers who submitted their declaration in advance and did not fall through the cracks. But beyond that, there are other situations that can influence the order of receipt.

Among the criteria used to define priority in the refund process are the age of the declarant, with preference for older people, and the presence of dependents, especially children and the elderly. In fact, those with a serious illness are also covered, who can receive the refund amounts in a priority batch. It is important to highlight that the Federal Revenue Service has already announced the date for consultation of the 1st batch of Income Tax refunds in 2023, which will take place on May 24th.

Finally, those who have not yet submitted their Income Tax declaration should hurry to guarantee a refund in the first batch. Anyone who has already sent the data must wait for the list of beneficiaries.

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