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IRS. The deadline for filing the tax return has already begun.

IRS. The deadline for filing the tax return has already begun.

IRS. The deadline for filing the tax return has already begun.

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The IRS has already announced the start of the tax filing deadline. You have until the end of June to file your 2023 income tax return, but those who fall under the IRS's automatic system have an easier task. As you know, the earlier you file your return, the faster you will receive your refund. However, keep in mind that it is very common to have errors in the system and tax calculation at the beginning of the filing deadline. This year, expect shorter returns, or even an opportunity to pay, as the rates of deductions were changed in July 2023 to reduce the burden on taxpayers, but now may be reporting time.

Miscellaneous expenses

A wide variety of expenses are included here, such as supermarket shopping, travel, gas, telecommunications, clothing and fuel, among others. That is, all expenses that don't fit into any other category are considered general expenses. If you have underpaid bills of this type, simply categorize them as “Other.” To summarize, the IRS will deduct 35% of total expenses per household up to a limit of €250 per taxpayer. However, this limit increases to €500 in the case of families.

Large families are entitled to a 45% deduction, up to €335. But keep in mind that the number of children does not increase the deduction limit.

Health

The tax office takes into account 15% of all health expenses, whether or not they have been exempted from VAT, up to a limit of one thousand euros. This includes expenses for health insurance, consultations, examinations, medicines and medical orthopedic devices. However, health expenses subject to the 23% VAT rate are also taken into account if they are accompanied by a prescription. Otherwise, they are not taken into account in this category, but belong to the total expenses of the family.

Education

The tax office takes into account 30% of education expenses up to a limit of 800 euros (value for a couple). However, expenses amounting to 2,667 euros must be submitted for this purpose. From 2020, rental costs for non-resident students can also be taken into account as “education and training costs”. Students must be at least 25 years old and attend an educational institution in a place other than the family residence that is more than 50 kilometers away. In the case of such expenses, the annual limit for additional education expenses increases to €1,000.

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