What circumstances may be a prerequisite for filing an updated tax return?
Such circumstances may be:
- without the help of others detected error. For instance, you found out, that you have mistakenly indicated the date or currency of the transaction, which has been committed in the overseas market. This led to the reflection of the wrong currency rate and, hence, to distortion of the tax base and the amount of tax.
- found or acquired with a time delay document for spending. These expenses will allow you to reduce the overcharged amount to this tax.
- your desire to receive a deduction (for healing, Insurance, Training, losses of past periods, etc.).
- forgotten income, which needs to be declared.
All these circumstances may become a prerequisite for the need to submit an updated declaration.
What is it for and how to submit it?
The tax return is filed within the time period established by regulatory legal acts. It is not possible to correct an already filed declaration. Specifically for such cases, there is a specified or clarifying declaration, the submission of which replaces the data previously submitted with new ones.
Submit an updated declaration also, as well as the primary, you can use 3 methods: through the taxpayer's personal account, in person and by mail.
PRINCIPALLY: you need to fill out the revised declaration specifically in that form, Acted?? at the time, for which you are submitting additions. Otherwise, the declaration will be rejected by the tax authority.
A little clarification, what is it about?. Every year, our lawmakers bring in, albeit small, but still a change in shape (letterheads) Reporting. The 3-NDFL declaration is no exception. A new form is approved for each year, according to which reports on the acquired income should be provided. If you file an updated return for 2018 year in shape (on the form), which was adopted only since 2019 G., then the tax authority will not accept it. By the way,, this also applies to primary declarations. Provide reports for income 2019 year is necessary only in the appropriate form on the appropriate form. If you report on an old form, the declaration will not be accepted. And you risk getting a fine for not submitting a declaration.
When submitting a revised declaration, you must indicate the revision number. So, when you submit your primary (the usual) the declaration for the reporting year in the correction number you indicate "0". It means, that the declaration is primary, ie. first in this reporting period. When you submit an updated return, in the correction number you indicate the correction number, namely: if this is the first adjustment for this reporting period, then indicate "1", if the second is "2", etc..
Below are the 2 the option of affixing the correction number when submitting the declaration through the Personal Account of the taxpayer and when submitting it on paper (in person or by mail).
Variant 1 – Taxpayer's Personal Account
Variant 2- paper carrier (in person or by mail)
WHAT IS IMPORTANT TO KNOW when preparing and submitting an updated declaration
- It is necessary to prepare and attach copies of all documents, on the basis of which changes are made to the declaration.
- In addition to the documents, prepare and attach an explanatory note with a detailed description for the inspector, what changes have been made to the declaration, what was the reason for filing an updated declaration.
- AND THE MOST IMPORTANT THING, what should you pay attention to, this tax amount, whether it has increased or decreased.
Why is it so important? If the amount of tax has remained unchanged or decreased, feel free to submit an updated declaration and await the results of a desk audit. And if the amount of tax has increased, then you risk getting 20% fine!
What to do in this situation?
There is a little trick. For that, to avoid 20% penalty from the amount of tax, pay extra tax first, which you have formed, and only after that submit an updated declaration. And also attach a payment card in the package of documents with an explanatory note (receipt) on additional tax. Only in this case, the tax authorities will not charge you anything..
And what we want to say at the end - remember your rights and opportunities, use them. And if it is difficult for you to figure it out on your own, our specialists are always ready to help you.
