INCOME TAX. The first income tax notices are sent from July 26. The first concerns are those who have declared their income online.
[Mis à jour le 26 juillet 2021 à 08h20] Did you consult your personal space on the impots.gouv.fr site this morning? If you’ve reported your income online this year, chances are your income tax notice has already been made available to you. Tax notices are sent as of Monday, July 26, 2021. What date for you? Here are the deadlines that have been recorded:
- You get a refund (or you don’t have to pay anything): between July 26, 2021 and August 6, 2021 if you declared online. Two situations can give rise to this scenario: either you benefit from the payment of the remaining deposit of a recurring tax credit (type employment of an employee at home), or your deductions at source have exceeded the actual amount of the income tax for which you are liable for 2020.
- You have opted for the paper form, and you benefit from a refund: between July 30 and September 7.
- You declared via paper, and you don’t have to pay anything : between August 4 and September 7
- You owe a balance of income tax: between the July 30 and August 6 (between August 5 and September 1 for the paper declaration). This surely means that your rate of withholding tax turned out to be insufficient compared to what you actually owed for the tax year. You should therefore expect a deduction of the income tax balance in September – or even several installments between September and December 2021, if the amount of tax is greater than 300 euros – and a possible change in the tax rate. to the source. September is therefore likely to be particularly salty!
And in concrete terms, what information will you find on your income tax notice? As a reminder, the tax return allowed the tax authorities to determine the exact amount of your tax. In view of what you paid via the withholding tax, the administration has also calculated whether you are liable for a balance of income tax – or whether it must, conversely, reimburse you – and may also revise your withholding tax rate. On your opinion, you will therefore be able to verify the following information:
- The amount you have yet to pay (income tax balance) or the amount that must be refunded to you.
- Your benchmark tax income and the number of units
- The details of your taxation with the amount of net income tax you owe for the tax year and your withholding taxes.
Since the 20 last july, certain tax households benefit from a tax refund. This decision results from the last income tax return, completed last spring. Two situations can give rise to a refund:
- An overpayment by the tax administration: in short, that the withholding taxes turn out to be higher than what you really owe. The tax authorities must therefore reimburse you.
- Alternatively, you receive the remaining deposit of regular tax credit. Childcare costs outside the home, employment of an employee at home … Regular tax credits give rise to the payment of a deposit in mid-January. If your expenses have not changed, depending on what you mentioned in your tax return, you will receive the remaining deposit from the end of July.
There is nothing to do, since the reimbursement is done automatically by bank transfer. You can locate it with the wording “REVENUE TAX REMB” on your bank statement, coming from “DGFIP FINANCES PUBLIQUES”. If you have not transmitted your bank details on time, you will receive the reimbursement by letter check. Since January 1, 2019, income tax has been deducted at source, directly from your salary or retirement, by your employer or your pension fund. A tax rate is applied to all taxpayers based on their income. Taxpayers are still required to complete a tax return each year in the spring. This makes it possible to determine whether or not they are liable for a balance of income tax in relation to what they have paid via the withholding tax and possibly adjust their tax rate to the source.
LIncome tax works with a tax schedule. So, 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.
Do you have expenses eligible for tax credits or reductions: work? Child care costs? Gardening? Now is the time to take stock. Would you like to know more about the tax advantages you can claim? Consult our dedicated file:
In 2021, the income tax reporting period started on April 8. The deadlines depended on the method of declaration and your department number. The first deadline was set for Thursday, May 20 for the paper form. For the declaration on the Internet, the deadline depends on your department number: Wednesday May 26 (zone 1, departments from 01 to 19), Tuesday June 1 (zone 2, departments 20 to 54) and Tuesday June 8 (zone 3, departments 55 to 976).
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:
At the end of your declaration, you still estimate too much income tax this year: what if you already anticipate 2022? Consult our dedicated file:
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.
The year 2020 was marked by the coronavirus health crisis, and the rise of teleworking. If teleworking generated significant business expenses during the tax year, it is legitimate that you wonder about the possibility of deducting your expenses for their real amount. Be careful, however, because not everything is deductible. Meals taken at home, for example, are not eligible.
The tax administration has produced a Frequently Asked Questions (FAQ) dedicated to the health crisis, which you can find on the website of the Minister of the Economy. It lists all the eligible costs:
- Communication costs, other than cell phone costs: such as subscribing to or taking out an Internet offer
- Cell phone costs: subscription, purchase of a cell phone
- Costs of supplies and printed matter: ink cartridges for example or reams of paper
- Costs linked to the use of a private room (water, electricity, etc.) calculated in proportion to “the area used for professional purposes in relation to the total area of the accommodation AND the teleworking time” and acquisition costs furniture and computer equipment.
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 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.