Income Statement 2020. These are the news in a year marked by the pandemic

Income Statement 2020; keys, dates and news of the personal income tax return

It is now possible to file the 2020 Income Tax Return. Taxpayers will be able to file their return online from this date until the end of the campaign, June 30, on the Tax Agency’s website. If you want to submit the draft by phone, you will have to wait until May 4 to be able to make an appointment and be able to file the statements by phone from May 6. If you choose to do it in person, you have from May 27 to June 29 to make an appointment to file some returns that will begin at the Tax Agency on June 2.

ERTE, minimum vital income, donations…. These are the novelties of this year

One of the novelties that this declaration brings is the taxation of the ERTE, File of Temporary Regulation of Total or Partial Employment. The economic benefits received by an ERTE are considered as work performance. Therefore, according to the IRPF regulations, people who do not exceed 22,000 euros per year for work income, will not have the obligation to present their return.

However, this limit is set at 14,000 euros when the taxpayer has more than one payer and the returns received by the second and other payers exceed 1,500 euros.

Another novelty has to do with the impact of the minimum vital income, approved last May. According to the Royal Decree that approved the minimum vital income, the recipients of this benefit must make the declaration of income in the years in which it is received.

Regarding the minimum vital income benefit (IMV) this It is exempt, together with the minimum insertion income and other aid for groups at risk of social exclusion in the autonomous communities or local entities, with a joint maximum annual limit of 1.5 times the public indicator of multiple effects income, this limit being 11,279.39 euros in 2020. From Gestha they assure that the recipients of the minimum vital income and the members of the coexistence unit are obliged to present the declaration. Gestha also adds that this perception does not give the right to other types of family deductions (large family, relatives with dependent disabled people and single parents with two children).

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On the other hand, the subsidies or aid received as a result of the coronavirus health emergency this 2020 have to be declared. In this way, Since January 1, 2020, the deduction for donations made to non-profit organizations and other entities has been increased. A deduction that becomes 80% for the 150 euros donated and 35% from this figure. These deductions will also affect the contributions and donations made to the public treasury “to finance the expenses caused” by the Covid-19 health emergency.

In order to make this process easier for all our users, at Ei we have created a new section with everything you need to know to make the declaration step by step, quickly and easily. In this “guide“We tell you the steps to process and / or modify the draft personal income tax, the key dates and news in 2020 due to the coronavirus health crisis and the expected deductions. In addition, we have all the complete information about aid, income tax sections, Mandatory minimums to present the 2020 Declaration, in a section in which we also have a tax simulator for all our users.

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