Is the installment of the income tax due worth it?

Charlie Taylor

Every year, taxpayers file an income tax return and present data on the income for the previous base year. The tax owed is the amount that citizens must direct to the government according to their income and expenses. For some, this tax owed is less than what they already paid during that year and will have a tax to be refunded and, for others, the amount paid month to month. month is less than due, which requires you to pay a supplement, a difference. And it is this tax payable that can be paid in installments, or not, as the taxpayer prefers, in up to 8 installments. According to the advisor and coordinator of the Income Tax Commission of the Federal Accounting Council (CFC), Adriano Marrocos, it is It is important for each taxpayer to assess his situation well before making the installment decision, and remember that the installments are accrued with interest of 1% per month, plus the variation in the Selic rate.

Income tax

“My suggestion is for the taxpayer to talk to the manager of his bank and ask which loan option the bank offers him and decide between getting the loan, paying the cash tax and paying the same amount of installments or if it is better to install and pay 1% am + Selic. Installment payments can bring advantages as long as the loan brings more expensive installments. But, it is also necessary that each one learns to manage their money well, after all, money works for us and not the other way around. Also, it is not possible to suffocate every year with the income tax ”, points out the accountant.


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Payment methods

Payment of Income Tax can be made in two ways. The first is the payment in a single installment, in cash, with the tax due being paid in one installment. The second option is the installment plan, which, as mentioned by Adriano Morocco, has the added value of interest plus the Selic rate. The difference, however, depends on the situation of each taxpayer. “It is important to talk to the accountant or to someone you trust who understands the matter to help you make this choice,” suggests Adriano Marrocos.The installment payment is automatic and can be debited from the taxpayer account through financial institutions affiliated with the Federal Revenue Service.

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