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HomeFITNESSlearn how to obtain and interpret your

learn how to obtain and interpret your

overall income

Total taxpayer income calculated in the tax year to which the declaration refers. Includes wages, pensions, provision of services, etc.

Specific deductions

Specific deductions are deductions made from overall income. For employees, the amount is fixed.

recoverable losses

Taxpayers with negative results, for example, investors or landlords, may seek to recoup the loss in the following year’s IRS.

taxable income

Yield obtained by the difference between overall (gross) income and the sum of specific deductions, recoverable losses, rebates and income deductions.

Exempt earnings included to determine the Rate

Among this type of income are those of those who work for diplomatic missions or under cooperation agreements.

family quotient

Divide the income by the number of taxpayers. In the case of married people or those in a de facto union who opt for the joint declaration, the income is divided by two.

Determined amount and portion to be deducted

Importance of the rate calculated based on the total income, varying according to the taxpayer’s income (the higher, the higher the rate).

Tax relating to autonomous taxation

It is applied to those who opt for autonomous taxation of certain income. Instead of these being added to the rest to determine the fee to be applied, a single and definitive fee is charged.

total collection

Amount that the taxpayer would have to pay even without deductions or withholdings.

Collection deductions

Amount of all IRS-deductible expenses (for example, health or education expenses).

municipal benefit

It is the percentage that municipalities return IRS revenue.

Additions to collection

Penalty value applied to taxpayers who withdraw in advance amounts invested in investments with tax benefits, for example, a Retirement Savings Plan (PPR).

net collection

Final amount that the taxpayer has to pay to the IRS.

payments on account

Amounts paid by self-employed workers who, in previous years, did not make sufficient withholding tax.

withholding tax

Amount retained when earning income.

calculated tax

Importance of tax calculated based on net collection, withholdings and payments made on account.

Interest on retention-savings

Interest to be paid by the State in case of excessive collection in the previous year.

IRS guide

After all, what is the IRS? How does this tax collection work? And what do you need to fill in the declaration? See the answer to all these questions in our ebook.

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