more than a few hours to fix it!

INCOME TAX. The deadline for paying a balance of income tax for the year 2020 comes this Monday, September 20, at midnight. The withdrawal will be made at the end of the month from your bank account.

[Mis à jour le 20 septembre 2021 à 08h23] Are you liable for a balance of income tax for the year 2020? Hurry and fix it if you haven’t already! The deadline comes today, Monday September 20. Do you want to pay by check or cash? It’s too late: the deadline was set for September 15. For online payment, keep in mind that the debit will then be made at the end of the month. Please note, if the amount of the balance exceeds 300 euros, you will be withdrawn in 4 monthly installments, between September and December! Something to plan for, especially if you have a tight budget at the end of the year. As a reminder, income tax is deducted at source. The tax return, carried out each year in the spring, allows you to calculate the exact amount of income tax you owe for the tax year. In view of what you have discharged via the withholding tax, the tax authorities determine whether you benefit from a refund or whether, on the contrary, you have to pay a balance of income tax. This is particularly the case if you have experienced an increase in income (salary increase, you have found a job, etc.), without adjusting your rate of withholding tax during the tax year. .

In 2021, two deadlines have been set for income tax. If you have to pay a balance, you had until September 15 for non-dematerialized payment and until September 20 for online payment. Check out all of our articles to find out how to pay your taxes:

What is the income tax schedule? Slice

LIncome tax works with a tax schedule. Thereby, a rate between 0 and 45% applies to each income bracket of the income tax scale. Very concretely, if your net taxable income is below a certain threshold, a zero rate is applied.

These famous rates apply to a fraction of the household income. The total amount of tax results from the addition of the various brackets. Here is the income tax schedule that applies:

Annual income brackets Applicable rate
up to 10,084 euros 0%
from 10,085 euros to 25,710 euros 11%
from 25,711 euros to 73,516 euros 30%
from 73,517 euros to 158,122 euros 41%
from 158,123 euros 45%

L” all income (salaries, pensions, pensions, property income) that you receive in the tax year are studied by the tax authorities. First, it is necessary to determine net taxable income – information that you can find on your payslip if you are an employee. As a reminder, a standard deduction of 10% is applied for professional expenses. If this allowance is lower than the total of your professional expenses, you can then deduct the amount of your real costs.

Have you determined your net taxable income? You must divide it by the number of shares in your tax household. You get your quotient familial. The family quotient is used to determine a taxable income for the tax household. Apply the amount obtained to the tax scale. In 2021 for the taxation of income for the year 2020, the tax reduction linked to the family quotient is limited to 1,570 euros for each additional half-share.

In which cases can we benefit from a discount or reduction?

Some tax households may benefit from a discount on 2020 income, if the gross amount of their income tax does not exceed a certain threshold. Here are the limits not to be exceeded:

  • For a single person : 1,722 euros. “The discount is equal to the difference between 779 € and 45.25% of the amount of your tax”, we explain on the service-public.fr website.
  • For a couple subject to joint taxation (married or civil partnership) : 2,849 euros. “The discount is equal to the difference between € 1,289 and 45.25% of the amount of your tax,” we add.

Want to calculate your income tax amount so you can predict what to expect at the end of the summer? The easiest way is to use the income tax simulator made available by the tax authorities. Before starting the simulation, get your hands on the following: net taxable income, charges, tax benefits and Withholding. The more specific elements you bring, the fairer your income tax simulation will be. You will then obtain an estimate of your income tax for the year 2020, with the application of a discount or not, and you will know if you owe a balance in the summer with regard to what you have already paid.

Do you prefer to calculate it yourself? The income tax calculation will take you a little longer. You will have to get hold of your net taxable income, then determine the number of shares in your tax household, deduct your expenses and then apply the income tax scale (read below), without forgetting your tax advantages (credits and tax reductions). Are you ready to take the plunge? Consult our dedicated file without further delay to find out the amount of your income tax now:

You still estimate too much income tax this year: what if you already anticipate 2022? Consult our dedicated file:

Some taxpayers had the good surprise of receiving a refund, directly to their bank account, from the tax authorities during the summer. In detail, only two scenarios allow you to find yourself in this situation:

  1. When consulting your 2021 income tax return for 2020 income, the tax authorities assessed that your withholding taxes were greater than the total amount of income tax for which you are liable for the tax year. . The administration therefore reimburses the difference.
  2. You receive the remaining deposit of the regular tax credit received in mid-January (example: home employment, childcare costs for a child under 6 years old away from home, etc.).

There is nothing to do upstream, except to check your bank details.

In the absence of initiative on your part, the tax administration applies a standard deduction of 10% to all employees for professional expenses. If you feel that this allowance does not cover all of your expenses, you have the option of deducting these expenses for their actual amount.

If you decide to deduct your actual expenses, keep in mind that the process can be tedious: you have to list all of your business expenses during the tax year, which requires careful accounting. You must keep all supporting documents for your expenses for three years in the event of a tax audit. The costs incurred must correspond to a real need for your professional activity.

Your tax regime is that of the micro-enterprise. As a reminder, three conditions must be met to benefit from this regime. We summarize them for you:

  • Your reference tax income N-2, must not exceed a certain threshold
  • Your turnover over twelve months of the previous year must not exceed: 170,000 euros (if your business sells goods, objects, the provision of accommodation) or 70,000 euros “for other service providers under industrial and commercial profits (BIC) and liberal professionals under non-commercial profits (BNC),
  • You choose the micro-social regime.

In this case, you will have to use the declaration n ° 2042-C PRO and indicate the amount of your annual turnover or gross receipts. Do you want to know the rate that will be applied to you? Consult the dedicated tax page to know more.

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