4 tax mistakes that could cost you money
Right / / January 06, 2021
1. Don't pay taxes
Let's leave aside the thoughts that tax evasion is in some sense the theft of money from the budget, and in this matter the defaulter is no better than corrupt officials with their kickbacks and cuts. Let's talk about the essentials.
Approximately every tenth Russian hidesEntrepreneurship and self-employment in Russia your income. Usually people expect that no one will notice it. Indeed, quite often everything gets away with it. Can be for years rent a flat rent or get paid in an envelope and avoid responsibility.
But specifically, you may not be lucky. If the FTS still finds out that you are evading taxes, they will not only force you to pay the bills, but also write outTax Code of the Russian Federation Article 122. Failure to pay or incomplete payment of tax amounts (fees, insurance premiums) a fine of 20% of this amount. If it can be proved that you did it on purpose, the sanctions will be 40%.
If you owe more than 2.7 million in the last three years, you may be attractedCriminal Code Article 198 to criminal liability.
This means a fine of 100-300 thousand rubles (sometimes - income for a period of 18 months to three years), or up to a year of forced labor, or up to six months of arrest, or up to a year in prison.
There are also penalties that do not look so scary against the background of everything else. If you do not have time to pay taxes on the declared income by July 15, and property taxes by December 1, you will have to pay 1/300 of the Central Bank's refinancing rate for each day of delay. Now it is 0.02%.
Finally, you will be punished for not filing a return. The penalty will beRF Tax Code Article 119. Failure to submit a tax return (calculation of the financial result of an investment partnership, calculation of insurance premiums) 5% of the unpaid tax amount for each month of delay, but not less than 1 thousand rubles. True, the sanctions cannot be higher than 30%.
Reading now🔥
- 30 financial tips to help you get richer
2. Don't file your tax return when needed
We already started talking about declarations in the last paragraph, but this issue deserves closer attention. The average employee rarely faces the need to submit such a document, so he may not even think that he should do it. And for this, as we remember, a fine is imposed.
You must file a tax return if you:
- Received income from the sale of property.
- We got real estate, transport, shares, shares, shares from people who are not close relatives to you. That is, not from parents, children, grandparents, grandchildren or siblings.
- You work for a company that does not pay taxes for you.
- Received income abroad.
- Won the lottery or sweepstakes up to 15 thousand rubles. If more, the organizer deals with tax issues.
In general, everything seems clear: you have received income from which you need to pay tax - fill out the declaration. Otherwise, the prophecies from the first paragraph will come true. But there are nuances.
Sometimes a document must be submitted, even if you do not owe the state anything. For example, let's say you sold an apartment that you had owned for less than three years for cheaper than you bought it. There is no income, so there is nothing to tax. But you still need to file a declaration, where you, using the accompanying documents, notify the FTS that there is no debt. If you do not do this, you will be fined 1 thousand rubles - the minimum amount of sanctions.
Remember☝
- 12 types of income from which you do not need to pay personal income tax
3. Don't follow tax notifications
Every year the FTS generates and sends you a tax notification, which says how much you owe the state for owning property. Previously, these were paper letters, now the document can be received directly in the personal account on the department's website.
Why you need to monitor whether you received a notification and what is written in it.
- There are mistakes in them. You may be charged a tax for a car sold three years ago or for an apartment owned by your namesake. On the other hand, you may not be charged tax for something. In both cases, you are risking money: either pay extra, or get in trouble when non-payment is revealed.
- You may be assessed tax without taking into account benefits or deductions. As a result, you will overpay.
- If the notification came in paper form, it is possible that it is fraudulent. You run the risk of giving your money to the wrong place. And then you still have to pay the tax.
So check in the fall how much property taxes have been charged to you. The notification should arrive by November 1st.
Take note📃
- How to fix mistakes in your tax notice to avoid paying extra
4. No tax deduction
The state is ready to return part of the money that you paid in the form of personal income tax. Many people know about the home purchase deduction, but it not the only one. You can also get money if you have children, have been treated, studied, donated to charity, donated to a non-profit retirement fund, and invested.
You can count on the maximum deduction when buying real estate: it can reach 260 thousand. But even if we are talking about small amounts, it is strange to refuse money.
It's easy now issue a deduction right in personal account on the tax website. If you are not in a hurry, it is not even necessary to take a 2 ‑ personal income tax certificate from the employer: after March 1, it will be uploaded to the site without your participation.
Read also🧐
- How to pay taxes: what a typical Russian needs to know
- Fraudsters are sending out fake tax notices. Here's how not to fall for their bait
- How to fill out and file a 3-NDFL income tax return