Annual tax return: how long does it take for the SAT to return balance in favor

In this month of the annual tax return, one of the attractive or interesting facts for taxpayers is When does the SAT return a balance in favor? Given this, we will detail how many days will have to pass in order to receive the resources of this benefit.

And it is that by having a balance in favor, a person will be able to transform that into an economic return. The result will occur when when performing the tax calculation, that is, when filing the annual return, it turns out that the taxpayer paid more than he owed.

In this way, the interested party may request the Tax Administration Service (SAT) to return this financial amount to him. This is a process that individuals will be able to carry out when filing their return for the previous fiscal year, that is, 2021, during this year.

It should be remembered that, the declaration process can be carried out electronically, and at that time the possibility of the balance in favor can be received automatically.

Example:

-If the balance in favor is equal to or less than 10,000 pesos, you can file the annual return with a password.

-Whereas, if the balance in favor is greater than 10,000 and does not exceed 150,000 pesos, you can also submit the return with a password, provided that you select an 18-digit CLABE bank account already pre-loaded in the application, and in the name of the taxpayer. If you capture a CLABE account other than the pre-loaded ones, then you must file the return with e.signature.

-If the balance in favor goes from 10,000 to 150,000 pesos, the return will have to be filed using the portable e-signature.

In what time does the SAT return a balance in favor?

According to the tax authorities, returns must be applied within 40 working days of the date on which the application was submitted to the tax authority.

In addition, if the SAT authorizes a minor automatic refund, the taxpayer will be able to know the reasons.

How to know?

*The interested party must enter the SAT portal and click on “refunds and compensation”.

*Then go to follow up on procedures and requirements.

*Login with e.signature and password.

*Select the required query.

*Then select in “reasons for the inconsistency” and the reasons will be displayed immediately.

If you want to know in advance if you can achieve a balance in favor, you can use a special tool that enabled the SAT. This is a simulator with which you will be able to have greater control of the subject.

It should be remembered that the annual tax return must be made during April, since the 30th of that month was set by the tax authorities as the deadline.

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.

Among the personal expenses that can be deducted are some such as: health, education, funeral services, contributions to your Retirement Fund Manager (Afore), among others.

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