Once the 730 has been sent, the Revenue Agency processes it and transmits the flow with the information necessary for refunds (form 730-4) to the employers or delegated professionals, in the following three weeks.
The timing of the 730 refund varies depending on the date of transmission of the tax return and the type of income received:
- for those who sent the declaration by May 31, 2024, the refund will be credited to the paycheck in July;
- in case of transmission between 1 and 20 June 2024, the refund will be credited to the paycheck in August;
- if form 730 is sent between 21 June and 15 July, the refund will be included in the September paycheck;
- those who sent the declaration after July 15th and by October 15th will obtain the October/November LUL.
New 2024: 730 without replacement – From this year it is possible to present the pre-compiled form 730 “without substitute”, at the worker’s choice, even in the presence of a tax withholding agent required to make the adjustment. If a credit emerges from the declaration presented and the taxpayer has provided the Agency with the details of his bank or postal account (Iban code), the refund is credited to that account.
When, on the contrary, a debt emerges, the taxpayer who sends the declaration directly can make the payment via the same online application (the procedure allows the same Iban indicated for refunds to be used to debit the F24 form). You can also print the F24 form that the Agency has already pre-filled with the necessary data and pay with the ordinary methods. The taxpayer, however, who turns to a Caf or a qualified professional for tax assistance, can send the F24 form electronically to the Revenue Agency via the same intermediary, or pay with the F24 form which will be delivered to him.
Credit adjustment – In the event of a credit adjustment, the tax refund is carried out through a corresponding reduction in the withholding taxes by way of Irpef and/or regional and municipal surcharges relating to the compensation paid to the same employee. The resulting credit amounts are reimbursed starting from the first useful salary and in any case on the salary for the month following the month in which the substitute received the settlement statement 730-4. If the aforementioned withholdings are not sufficient, the total amount of withholdings relating to the total compensation paid for the same month to all employees can be used.
Debt adjustment –In the event of a debt adjustment, if the remuneration to be paid to the worker is not sufficient to withhold the entire amount due (total amount or individual installment based on what is set out in form 730), the residual part is withheld from the remuneration paid in the following month and, in case of further insufficiency, from the wages of the following months of the year. In this case, interest is applied at the rate of 0.40% per month on the amounts withheld in the months following the first month, also deducted from the salary. If the recovery has not yet been completed by 31 December, the residual amount and the related interest must be paid directly by the worker by 16 January 2024, following communication from the withholding agent.
