Maximize your IRS refund! Validate pending invoices by the 25th.
Don't forget to check for pending invoices, to validate them and maximize the amount to receive as IRS refund.
Validate pending invoices by February 25 to maximize the IRS.
If you don't want to waste money, validate your invoices on the e-Fatura portal so they are considered in the IRS. According to Notícias ao Minuto, DECO PROTeste warned, through social media, that taxpayers should complete this process to ensure the highest possible refund. (Source: Notícias ao Minuto)
"With the new IRS rules, many taxpayers deducted less throughout 2024. Therefore, at the time of filing the tax return, the refund may be lower or, in the worst case scenario, there may even be additional tax to pay," warns the organization."
However, "it can reduce the amount to pay or increase the refund by deducting expenses incurred throughout the year". To do this, "it is essential to validate the invoices issued in 2024 on the e-Fatura portal until February 25, 2025".
What should I do to validate the invoices?
Associate "each expense with the corresponding sector" to get deductions in health, education, housing, homes, and family general expenses.
You can also recover part of the VAT paid on accommodation and restaurants, car and motorcycle workshops, hairdressers and beauty institutes, gyms and veterinarians, although with different percentages. As for the VAT paid on newspaper and magazine subscriptions, as well as on monthly tickets and passes for public transportation, it can be deducted in full, recalls the organization.
What if you don't validate the invoices?
Invoices remaining unpaid after February 25, 2025 will not be counted for deduction in the IRS: "That is, if you do not validate them, you may lose money. However, health, education, nursing homes, and properties expenses can be manually added to the IRS declaration," clarifies DECO PROTeste.
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