Your Options for Perfect Tax Return Options
If you’ve never completed a tax return before, or if you have always preferred the paper version, this article may interest you. In 2020, the tax return is done online for the majority of taxpayers. But between the withholding tax, the blank year, the postponement of tax credits, exceptional income, taxpayers are slightly confused this year. Here are some tips for completing your return in 2020.
Do you have to file a tax return in 2020?
The fiscal white year (2019) raises the question of the need for tax filing in 2020. If, as the government has stated on numerous occasions, current income is erased by the white year, why do we have to report it? Why bother to file a declaration for a tax that will be paid. On this point, a few clarifications:
The fiscal white year only concerns current income. This refers to income likely to be received regularly (wages, salaries, pensions, life annuities, replacement income, etc.). The exceptional income and deferred are not affected. They will indeed be taxed. Through taxfyle you can have the best submission now options.
The tax will be erased through a specific device. the Modernization Tax Credit (CIMR). This tax credit is calculated on the basis of your net taxable income (excluding exceptional income). The tax administration therefore needs to know the totality of the resources collected in 2019 by your household to calculate the credit which will be used to erase your tax.
As for capital gains on sales, dividends, life insurance gains and other capital income, they do not enter into the calculation of the Modernization Tax Credit. Since 2019, this income has been subject to a single flat tax of 30% and taxed separately.
2020 tax return: online or on paper?
White area: the authorized paper declaration
Here again, the government has been formal: in 2020, online declaration is mandatory for taxpayers with Internet access at home and able to use it. An exception has been granted to certain profiles:
- The elderly, disabled, dependent.
- The primary filers who have not received the letter of the tax authorities with their references (tax number, tax income of reference, reference of the notice).
- Individuals whose main residence is not equipped with Internet access
- Individuals residing in white zones (without network coverage)
For everyone else: it is on the Internet that it happens.
Two solutions are available to you:
Declare your income by following the procedure on www.impots.gouv.fr, from your personal space.
Declare your income with Taco Tax: the declaration service remains open until June 26, for all taxpayers.
But that’s not all: you also have an additional time until June 26 to complete your tax return, without penalties.
How to complete your declaration?
- You declare on paper
If you opt for the 2020 tax return on paper, you must remove the blank 2020 return forms:
- Online, by downloading them from the website of the tax service.
- By going to the Personal Tax Service (SIP) on which you depend.