A new year has begun, bringing with it important fiscal obligations. Here is a detailed breakdown of the critical deadlines for submitting IRS declarations in 2025, pertaining to income earned in 2024.
By January 31, 2025
- Declare rental income: Ensure all rental income is reported on the Finance Portal, covering:
- Rent agreements,
- Subletting arrangements,
- Other forms of property use that are not traditional leases.
By February 15, 2025
- Update personal information: Taxpayers must confirm or amend details about their household composition and other relevant personal data, including:
- Shared custody arrangements,
- Updates to permanent residency data (as of December 31, 2024).
- Declare rental expenses: If you’ve relocated to a low-density territory in Portugal, communicate any applicable rental costs and the duration of your lease.
By February 28, 2025
- Review and input invoices: Ensure all invoices are registered on the e-Invoice Portal. If any are missing, they must be added manually.
- Independent workers: Those with self-employment income must declare if professional expenses relate to their activities.
By March 15, 2025
- Review tax deductions: The amounts deducted from your tax obligations based on verified invoices will be made available. These deductions include expenses like health insurance premiums.
From March 15 to March 31, 2025
- Dispute deductions: If you disagree with the reported tax deductions for general family expenses or invoice benefits, submit a complaint during this period.
- Assign tax benefits: Choose an organization to receive a portion of your IRS or VAT contributions from the list provided on the Finance Portal.
From April 1 to June 30, 2025
- Submit IRS declarations: File your IRS return for 2024 income during this window.
By July 31, 2025
- Receive your IRS refund: The tax authority (AT) will issue settlement notes and process refunds for declarations submitted within the official period.
By August 31, 2025
- Pay additional taxes: For those who owe additional taxes or filed late, this is the final date to settle your tax obligations.
Stay Updated
These dates are essential to ensure compliance and avoid penalties. Mark your calendar and ensure timely submissions to streamline your IRS process for 2025. For professional tax support, feel free to contact us!
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