IRS - Payments on Account 

IRS Personal Income Tax

The persons entitled to income from category B of IRS are compelled to make three payments on account of the tax due until the 20th of each one of the months of July, September and December.

The amount of each payment on account, resulting from the application of a formula, is made know to the taxable persons through a notice evidencing the payment of the tax related to the last but one year, without prejudice of the sending off of the document of payment, in the month prior to the time limit of the respective term, however not required if inferior to € 50. The total amount due is 76,5% of the IRS paid for the second year before.

It is not compelled to make such payments when:

a) The taxable persons verify through the elements in their possession that the amounts of the tax deduction made on the income of category B, increased with the payments on account already made and related to the year itself, are equal or superior to the total amount of the tax due;

b) Income of category B is no more received.

When one verifies in the tax return (model 3 of IRS) that the payment of an amount superior to 20% is no more made (which, in normal conditions, would have been made) in consequence of the reduction or suspension of the payments on account, then compensating interests may be applied.

Article 102nd IRS Code

Personal Income Tax Code

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This note is only for information and does not hold its divulgers responsible. For thorough information you must consult the Law.