It’s almost May 1st. This not only means the start of a new month, but also an expiry date for your income tax return. Submit your 2023 tax return today to avoid default penalties and unnecessary tax interest.
Have you already filed your tax return and are you curious about when you can expect the assessment? Or curious when you will see a possible refund appear on your account? This is how quickly you will receive the assessment and the money back after your 2023 tax return.
Tax return 2023
Last week, the Tax Authorities had already received approximately 9.3 million tax returns. And that number has increased considerably in recent days, reports a spokesperson for the Tax Authorities Good morning Netherlands. In the last days before May 1, an average of around 200,000 new tax returns are received by the Tax Authorities, spokesperson Steed Cobben said. This brings the number of declarations closer to 10 million.
Do you belong to the group of people who have not yet submitted the tax return? Then it is wise to quickly collect the correct documents and submit your tax return before 11:59 PM tonight. Do you want to avoid a default penalty or tax interest? Then it is important that your tax return is submitted before May 1. You can also request a postponement before May 1, but even then tax interest may still be charged.
Are you unsure whether you should file a tax return? You can read more about this in this previously published article.
Tax interest
Are you obliged to file a tax return, but are you unable to submit your tax return on time? Then you can request a postponement today. This extends your deadline to file a tax return and the tax return must be received by the Tax Authorities before September 1, 2024. However, you may have to pay extra if you request a postponement. Does your deferred tax return show that you owe an amount to the tax authorities? You pay 7.5 percent tax interest on the amount to be paid. The interest is calculated from July 1, up to a maximum of 19 weeks after the tax authorities have received your tax return.
If you miss the deadline and do not request an extension, you also run the risk of a default fine. Should the Tax Authorities ask you to still submit your tax return after July 14? Then you risk a default fine ranging from 385 euros to 5,514 euros.
Want to know more about the different fines? You can read more about this in the article below.
So many people risk a fine when filing their 2023 tax return
