Imagine that someone was ready to file an income tax return and at the exact moment received a letter saying that they had been fired. In this case, do you still need to authorize the documents? According to information from the Federal Tax Service, everything will depend on a series of specific issues.
As a general rule, if the dismissed person complies with at least one of the extradition requirements and obligations, he must proceed with the declaration process. In addition, you will also need to enter the details of the severance pay that you may have received before submitting the documents.
According to experts, terminations are usually announced separately. In general, you should pay attention to what kind of dismissal the worker has experienced. It is important to know whether the money received on termination is tax-deductible or non-tax in nature, for example.
To find out if there is a tax withholding at the source or not, a citizen just needs to refer to his income report. The document must be handed over by the company to the employee. If the employer does not deliver it, the employee has the right to urgently request documents to avoid further problems.
A dismissed employee who meets the criteria for an income tax return must submit documents at the end of the term, as they would for everyone else. Otherwise, you may have to pay a fine of up to 20% of the tax due.
FGTS and fine termination
FGTS and termination penalty are money exempt. In any case, the amounts must also be declared in the documents, even if they do not change the basis for calculating the federal income tax.
The same applies to amounts referring to voluntary separation plans (PDV). Since there is no change in the account, the announcement of the above amounts serves only to establish the origin of the amount received. nothing else.
To declare the exempted amounts, the citizen will need to enter the data in the “Exempt and non-taxable” form. The process is also carried out through the application of the company itself. tax authority to advertise.
Prior notice, thirteenth and overtime
However, the situation is different when it comes to the advance notice, the thirteenth relative salary and also overtime. In these cases, we are talking about taxable amounts, that is, the path to the return is different.
All amounts received as termination of employment that are not compensation are reported in the Taxable Income Received from Legal Entity tab. There the citizen can enter the official data.
For all cases, the main advice is to declare your income tax as soon as possible. People who submit the ad in advance have a number of advantages, such as an increased chance of getting a potential response in the first batches.
“Hardcore beer fanatic. Falls down a lot. Professional coffee fan. Music ninja.”