2021 tax bills, excerpt rules up to 5,000 euros

Tax bills up to 5000 euros, here are the rules for taxpayers provided for by the support decree With circular no. 11 / E, signed by the director of the Revenue Agency and issued in agreement with the Revenue-Collection Agency, clarifications are provided on the debts that can be canceled, on the taxpayers who can benefit from the measure and on the timing. In particular, on October 31, 2021, all debts that, as of March 23, 2021, have a residual amount of up to € 5 thousand, entrusted to the collection agent from January 1, 2000 to December 31, 2010, will be automatically written off. The limit of 5 thousand euro (including capital, interest for delayed registration in the role and penalties) must be calculated in relation to the amounts of the individual charges. The Revenue Agency explains that natural persons (form 730 and Income 2020) who have received taxable income of up to 30 thousand euros in the tax year 2019 and entities (joint stock companies, partnerships and Non-commercial entities) that have achieved, in the current tax period as of 31 December 2019, a taxable income of up to 30 thousand euros. With respect to which debts can be “written off”, the Sostegni decree has provided for the automatic cancellation of all debts with a residual amount as of 23 March 2021 up to 5 thousand euros, including capital, interest for delayed registration in the role and penalties, resulting from the individual charges entrusted to the collection agent from 1 January 2000 to 31 December 2010 by any creditor body (except for the debts expressly excluded, listed in the document of practice). Compliance with the ceiling, continues the Revenue Agency, must be calculated taking into account the capital, the interest for delayed registration in the role and the penalties, while the premiums and interest on arrears and any procedural costs are excluded from the calculation. If the taxpayer has several charges registered in the role, the amount of each counts: if the individual charges do not exceed 5 thousand euros, they can all benefit from the cancellation. The excerpt also applies to debts falling within the “Scrapping-ter” (Legislative Decree no. 119/2018), the “Balance and excerpt” (Budget law 2019) and the “Reopening of terms” (provided for by Legislative Decree no. 34 / 2019). On the website of the Revenue-Collection Agency it is possible to check whether the debts admitted to the aforementioned facilitated definitions can be canceled. The debts that can be subject to an excerpt, the Revenue Agency explains, must refer to natural persons and subjects other than natural persons who have obtained, respectively in the tax year 2019 and in the tax period in progress at date of 31 December 2019, a taxable income of up to 30 thousand euros. For natural persons, continues the Revenue Agency, the 2020 Single Certifications and the 730 and PF 2020 Income Tax Returns present in the database of the Revenue Agency as of 14 July 2021 are taken into consideration. For subjects other than persons instead, reference is made to the tax return forms for corporations, partnerships, non-commercial entities, in the title page of which a tax period is indicated which includes the date of 31 December 2019. Finally, with regard to how the Extract takes place, the Agenzia delle Entrate explains that it carries out checks on the possession of the requisites by the taxpayers concerned, reporting the tax codes that remain out for exceeding the income requirement, and by 30 September will give the green light for the cancellation. The collection agent will automatically provide for the Excerpt; the taxpayer will be able to verify that the debts have been canceled by consulting his debt situation in the manner made available by the collection agent. The payables subject to the Extract are all automatically canceled on 31 October 2021.