2020 will be remembered for a series of negative events that have marked not only the mood of Italians but also the economy of the country and of the whole world. However, the past year also brings good news with it, with a new record of Irpef credits boasted by about half of the Italian taxpayers. The total amount could exceed 23 billion euros. In less than a decade, from 2009 to 2018, the annual mountain of Irpef credit went from € 14.8 billion to € 22.2 billion.
Record-breaking personal income tax credit: increasing thanks to bonuses and new deductions
The boom in personal income tax credits predicted by a study carried out by Elegy, an association of 40 lawyers and accountants from Milan, Rome and Florence, is due to the popularity of tax deductible charges and IRPEF deductions in the last period. For example those related to the restructuring of real estate, such as the 110% bonus.
“Taxpayers pay more attention than in the past to possible savings, thus trying to reduce the heavy burden of taxes”, explained Alberto Bass, accountant and tax auditor from Milan who is part of Elexia.
Record Irpef credit for 2020: increasing thanks to Covid
In addition to the constant increase already observed in the last 10 years, the crisis caused by Covid will be added to the 2020 calculation, with many taxpayers who have suffered a drastic drop in income but who may have had to pay large Irpef advances calculated on the previous year.
Record-breaking Irpef credit for 2020: by how much it has increased
The taxpayers to whom the tax authorities are indebted have passed from 17,3 millions of 2009, year of the last availability of data, ai 21,7 millions of 2020, with an increase of 25%. The percentage of income taxpayers went from 42% in 2009 to 52% in 2020.
The amount of the Irpef credit, a tax benefit claimed by a taxpayer from the state coffers, has grown on average from 857 euro a 1.022 euro, or 165 euros. A figure that, however modest, will help not to burden too much on the situation of many Italian families when filing their income tax returns. A new one is also planned personal income tax bonus.
Income tax return: changes for 2021 in draft
In the drafts of the models of the tax declaration of 2021 present on the Revenue Agency website, namely 730, the Single Certification, the VAT model and 770, you can read the news of this year.
In new 730, for example, the supplementary treatment for employees’ income and the super bonus, the holiday bonus, the mobility bonus and the deduction for donations to support the measures to combat the Covid-19 emergency appear.
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