Is it possible to stop a tax deferral?
Posted: Thu Dec 26, 2024 4:31 am
We are now on the deadline for filing taxes for the second quarter of the year and many self-employed workers are faced with the problem of having to face new payments while continuing to pay outstanding installments from previous quarters.
Deferred payments are made on the 5th and 20th of each month , so some people may find themselves having to pay taxes twice a month. This suffocating situation sometimes causes cash flow problems that lead to non-payments.
Unpaid deadlines are sent by letter of urgency, which includes a surcharge of 20% on the amount of the installment. If the taxes are not paid in a hurry, the deferral will be cancelled and the entire remaining debt will be collected in an executive manner.
However, there are possible solutions that allow a deferred debt to be renegotiated when payments cannot be made. The taxpayer must submit a letter to the Tax Agency addressed to the collection department. In it, they can request a recalculation of the outstanding instalments, which implies payment in a new period.
This procedure can be canada whatsapp number data used to stop a deferral in force , delaying payment, or to request installments of a different amount , usually lower.
Deferrals must be processed electronically . This system is mandatory for applications associated with a declaration or a self-assessment. However, it is possible to submit them in paper form if, for example, the grouping of all outstanding debts with the Tax Agency is requested.
Initially, it is the taxpayer who proposes the number of instalments in which he/she intends to pay, as well as the accrual of the same (monthly, quarterly, etc.) and the date from which he/she wants to start paying.
The administration will respond by accepting or denying the proposal. It may also accept the requested dates and deadlines or indicate different ones . Until a response is received, the fees will continue to accrue according to the initial resolution.
Deferred payments are made on the 5th and 20th of each month , so some people may find themselves having to pay taxes twice a month. This suffocating situation sometimes causes cash flow problems that lead to non-payments.
Unpaid deadlines are sent by letter of urgency, which includes a surcharge of 20% on the amount of the installment. If the taxes are not paid in a hurry, the deferral will be cancelled and the entire remaining debt will be collected in an executive manner.
However, there are possible solutions that allow a deferred debt to be renegotiated when payments cannot be made. The taxpayer must submit a letter to the Tax Agency addressed to the collection department. In it, they can request a recalculation of the outstanding instalments, which implies payment in a new period.
This procedure can be canada whatsapp number data used to stop a deferral in force , delaying payment, or to request installments of a different amount , usually lower.
Deferrals must be processed electronically . This system is mandatory for applications associated with a declaration or a self-assessment. However, it is possible to submit them in paper form if, for example, the grouping of all outstanding debts with the Tax Agency is requested.
Initially, it is the taxpayer who proposes the number of instalments in which he/she intends to pay, as well as the accrual of the same (monthly, quarterly, etc.) and the date from which he/she wants to start paying.
The administration will respond by accepting or denying the proposal. It may also accept the requested dates and deadlines or indicate different ones . Until a response is received, the fees will continue to accrue according to the initial resolution.