Annual return of individuals: how to know if I have a balance in favor

Taxpayers have the entire month of April to file their annual tax return, but how do I know if I have a balance in favor? The Tax Administration Service (SAT) enabled a special simulator in this case, so below we will show how it works and the benefits it provides.

It is a tool that will facilitate the operation of interested parties, in addition to allowing the user to know the previous information of the annual return, which will allow them to have greater control of the subject matter.

In addition, this simulator includes pre-filled deductions that have been made throughout the previous year, provided that an invoice has been requested and paid through a card or electronic transactions.

It should be remembered that personal deductions are expenses that as a taxpayer you have the right to decrease from your accumulated income on the annual tax return and transform them into a balance to please, that is, a cashback.

How is the SAT simulator used?

*The interested party must enter the following link. Here.

*Then click on the option “run online”.

*Then indicate if you are a natural or legal person.

*Enter the text that will appear in the image.

*Click “continue”.

*Finally, you will have to follow the instructions to complete your information and obtain the obligations that correspond to you, according to the data entered.

It should be remembered that individuals must file their annual tax return from April 1 to 30, the date that is considered as the deadline for the process.

Who should file the 2021 annual return?

In April, individuals declare that they earned income from:

*Wages:

-From a single patron and they stopped receiving it before December 31.

-If they also earned income other than salaries.

-If they worked for two or more employers simultaneously.

-If wages come from abroad or from people not obliged to withhold.

-If they also obtained income from compensation or retirement.

-If the total annual income for this item exceeds 400 thousand pesos.

*Professional services.- These are those who earn income on their own and issue proof of fees.

*Business activities, including those who are taxed under the Tax Incorporation Regime and chose to make provisional payments bimonthly by applying a profit ratio.

*Business activities carried out only through technology platforms, computer applications or similar, that have not opted to make definitive payments.

*Collect rent for some real estate (apartment, house or commercial premises).

*They receive interest or dividends.

*They alienated goods, if they sold any goods.

*Acquisition of goods, if they purchased any goods.

The annual return is used to record income from your salary, your deductions, perform the calculation of the annual tax, file in zeros, pay or request a balance in favor, that is, a cash back.

For any questions or clarifications, the SAT made available to individuals some telephone numbers and websites, where they can make the statement, among other things. In addition, it extended office hours during the business days of April and some Saturdays of the month in order to meet this requirement.

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