We all agree that file a tax return It can be quite a challenge if you don't have the right resources or guidance. However, we have some great news! Today we'll give you ALL the details you need to know to file your tax return the easy way. Keep reading!
Exactly, what is a tax return?
The income tax return It's like a kind of ‘annual review’ that taxpayers submit to the tax authorities. During this process, we provide details about the income and expenses we've had throughout the tax year.
The fact is that its purpose is calculate the amount of taxes we owe to the government or, in certain cases, determine whether we are entitled to a tax refund. This annual step helps us keep our finances in order and contribute to the functioning of the society in which we live.
Now then, how can we file a tax return? Here, we'll focus on several points you should consider before going through the entire process, starting with the most important ones:
Organize your documents
The first step and general recommendation is for you to start organizing all the documents that you'll need. For example, you'll definitely need your DNI or NIE, your bank information, and the power of attorney certificate. This information is crucial, as it will be used throughout the entire process.
In addition, you'll need:
- Certificates of salary or pension.
- Information on additional income (rental income, dividends, etc.).
- Additional details about the account's fees and deductions.
And when it comes to deductible expenses, make sure to have kept medical bills and donation receipts if necessary, and the documents associated with the mortgage loans. You may also need the following, if applicable:
- Disability certificates.
- Proof of payments to pension plans.
- Documents supporting special circumstances (inheritance, divorce, etc.).
Tax Status
Now that you've taken all the documents into account, you should have an idea of your tax status. There are a few key points that can help you here:
Marital Status and Family: If you are married, it is essential to determine whether it is more beneficial to file a joint return or separate returns. Also, don't forget to consider any deductions related to children or dependents.
Changes in Personal Circumstances: Life is full of changes, and some of these may affect your tax return. Keep in mind factors such as changes of address, significant family events like births or deaths, and any changes in your employment status.
The fact is that these factors can have a direct impact on your tax situation, so it’s essential to keep them in mind when filing your tax return.
Choose the Filing Method
There are different Ways to File Your Income Tax Return, and choosing the right method can affect the final result. Common methods include:
Individual or Joint Tax Return
- Consider whether it's more beneficial for you to file your tax return individually or jointly, especially if you're married.
In-Person or Online Filing
- Online filing is the most common option today and can be done through the Tax Agency's website or using authorized software programs.
Use support tools
If you're ready to take your statement from the income, don't hesitate to take advantage of the valuable tools the Tax Agency makes available to you. Why? Because they're designed to make the entire process much more accessible and understandable.
For example, imagine being able to preview the results of your tax return. The Tax Agency's simulators provide you with this valuable tool. You can calculate and anticipate what your tax situation will look like.
Not only does this allow you to plan more accurately, but it also helps you gain a deeper understanding of your financial situation. Don't hesitate to explore these tools that make filing your taxes a little easier and more understandable!
Next Step: Complete your tax return!
We're ready to take the next step, which is to complete the tax return. To do this, we need to go to the website of the Tax Agency. In this section, taxpayers can enter their tax information to schedule an appointment, obtain a reference number, or register for Cl@ve.
Here, we recommend that you start with the draft by clicking on the section: Draft Processing Service. Then follow these steps:
Access the Draft
To access your preliminary income tax return, simply log in using your national ID number and select the ‘Log in using Reference’ option, entering the number from box 505 of your 2021 income tax return. Alternatively, you can use the digital certificate issued by the FNMT or the Cl@ve option for digital identification.
If you prefer more direct options, you can access the draft by phone starting May 5 through the «We’ll Call You» plan, or wait until June 1 for in-person assistance. Explore the options that are best for you and get started on your tax return!
Enter your information
Select whether you want the program to calculate only your individual tax return, right at the top of the screen.
Here, the Tax Agency lists the available tax options in separate columns. Depending on your needs, You will be able to amend, review, or file your tax return. If you have deductions, simply click «Continue with the return» at the top and fill in the required fields on the various pages.
Once you've made your adjustments, review the results of your tax return—whether it's an individual or joint return—and file it by clicking «File Return.».
File Your Income Tax Return
You have a certain amount of time through June 30 to file your tax return online. At this point, you’re in control. You can select your payment or refund method, set deadlines, provide the IBAN for your checking account, and—with a click on «Accept»—sign and submit your tax return
