Filing your tax return with form 730 is an annual practice, and 2024 will not be an exception. Whoever files first closes the accounts with the tax authorities first, benefiting both those waiting for tax refunds for having finished the year with a credit to IRPEF and those who have to pay off any excess debt. However, some taxpayers may not have the same urgency, since their income situation does not allow them to recover the amount due as early as July, as employees hope.
Refunds from tax returns, timing and reader questions
The 730 model, when presented promptly, does not always guarantee immediate benefits. Today, refunds are linked to the date of submission of the declarations.
“Good evening, I’m Piera and I’m a pensioner who should recover something with the 730 model. I’m away for family matters and I plan to present the declaration upon my return to Rome, at the end of June, at my usual CAF. Will I be able to receive what I am entitled to from INPS in August, like every year? This is the first time I’ve let May go by without completing this process. A thousand thanks.”
“Dear editorial staff, I am an employee and I brought the documentation for my 730 model to the CAF on May 21st, asking to speed up the procedure to receive the refund in July. However, CAF informed me yesterday of their inability to complete the procedure due to overwork. I’m worried that the refund will slip past the summer, especially after a large dental expense that should get me a large refund. When should I expect this refund under the current rules?”
Refunds for the 730 model are postponed, which is why there are those who will take them later
Readers’ questions about the crediting dates of tax refunds are frequent. In the past, crediting dates were fixed and these questions were useless. Now, with the extension of the deadlines for submitting returns, everything depends on the taxpayer’s readiness.
However, some taxpayers, fast or otherwise, will not receive their refunds as promptly as they might expect, especially if they do not have a tax withholding agent.
Here are the rules for doing everything right away and anticipating reimbursements
Before the introduction of the “no substitute” Form 730, income tax refunds could take years. Now, those who do not have a tax withholding agent can use form 730 without a substitute and obtain a refund by the end of the same tax year by providing the Revenue Agency with the IBAN code. Instead, for others, the refund arrives via bank transfer by March of the following year.
Model without replacement, refunds for the 730 model are postponed, and it is inevitable
Taxpayers without a withholding agent also receive refunds later. For example, workers who receive their July salary in August will not see refunds in that month. Similarly, pensioners do not receive their refund before their August pension payment. Postponing the submission of the tax return, especially via CAF, inevitably lengthens the time required for refunds.
Also pay attention to payments, because the repayments of the 730 model are postponed but the debt installments are also penalized
According to the 2019 Stability Law and the related fiscal law (DL number 124/2019), pensioners receive the refund with the payment of the second month following the conclusion of the transmission of the declaration. Those who file by the end of May or beginning of June, for example, can expect a refund in August, while employees will receive it with their monthly payments in July. For taxpayers with significant debts, installment payments can be a valid solution, accelerating the filing of the return to better distribute the debt until October, when the deadline for the 2025 IRPEF advance payment expires.
