Income Tax 2020, Federal Revenue releases the program
The 2020 Income Tax was released by the Federal Revenue Service, and the download is now available in the program that generates the tax, which is based on the base year of 2019.
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In fact, the deadline for submitting declarations will begin on March 2nd and end on April 30th.
The program is available for Windows, Mac, Linux and Solaris, and you can also download the mobile application for both Android and iOS.
Read on to learn everything related to Income Tax 2020 and who should file a return.
The deadline for filing your 2020 Income Tax return begins
Firstly, the software for completing the declarations is the same one used for both forms of taxation, such as legal deductions and the simplified discount.
First, guidelines regarding taxation methods are presented, and finally, when filing the 2020 Income Tax, the program will provide a comparative table with all the necessary information so that the taxpayer can choose the option that best suits their profile.
In short, anyone filing their income tax return can also import data from 2019. This makes filing this year easier.
Please note that this data import replaces records already entered in the 2020 income tax return.
Therefore, if the last declaration was corrected, it is necessary to replace it with the receipt number from the last online correction.
Another point is that the elderly, those with serious illnesses, those with physical disabilities, as well as taxpayers who file their income tax return without errors or omissions at the beginning of the deadline will receive the amounts due sooner.
Who should make the declaration?
In 2020, people who received taxable income above R$28,559.70, based on the year 2019, must file an income tax return.
They must also declare who:
- Received exempt, non-taxable income, or income taxed solely at source, with a sum exceeding R$1,040,000 in 2019.
- Obtained capital gains on the sale of assets and rights in any month last year.
- In 2019, it received gross revenue worth more than R$142,798.50 from rural activities.
- Had possession or ownership of assets and rights with a total value exceeding R$300 thousand, up to December 31 of last year.
- Became a resident of Brazil in any month of 2019, including those who found themselves in this situation on December 31 of last year.
- Opted for tax exemption on amounts obtained from the sale of residential properties.
Finally, taxpayers who choose the simplified tax return will no longer be entitled to all deductions under tax law. However, they will be entitled to a 20% deduction from their taxable income.
Finally, find out about the latest news from Brazil by clicking here and download the 2020 income tax return program by clicking here.
