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Income Tax filing season is always marked by expectations. Many taxpayers eagerly await the refund of amounts paid in excess throughout the previous year.
In this article, we will explain how the calendar works. Keep reading and find out!
The refund payment follows a schedule established by the Federal Revenue Service. However, depending on when the declaration is made, it is possible that you will only receive the money at the end of the year. See the dates below!
Income Tax Refund Calendar 2024
The redemption of Income Tax refunds follows specific criteria. Senior citizens aged 60 or over, people with disabilities and teachers, provided that their main source of income was teaching, have priority and receive their refunds first.
In addition, taxpayers who opt for the pre-filled 2024 Income Tax return and/or receive their refund via Pix have priority in the payment queue. As do those who submit their return early.
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Below, you can check the refund calendar for the year 2023:
1st batch: May 31, 2024
2nd batch: June 28, 2024
3rd batch: July 31, 2024
4th batch: August 30, 2024
5th batch: September 30, 2024
But if you are not listed as a priority or cannot submit your declaration at the beginning of the deadline, don't worry. There are options to advance this money, without any worries.
In this context, the advance payment of income tax refund emerges as an attractive alternative, and Banco Santander is one of the institutions that offers this type of credit. Let's understand better how it works?
How does anticipation work?
The advance payment of the Income Tax refund is, basically, a loan granted by the bank based on the amount to be repaid by the taxpayer.
Banco Santander offers its customers the possibility of advance up to 100% of the value to be received, depositing this amount directly into the applicant's current account.
Advantages and Features
The big attraction of this type of credit is the interest rate. Since the bank has the guarantee that the refund will be deposited (and consequently the loan paid off), the rates tend to be lower, from 1.7% per month, this modality can be more advantageous than a common personal loan.
THE payment term is linked to the refund deposit date. Therefore, when the Federal Revenue Service makes the payment of your refund, the advance amount is automatically debited from your account.
Who can apply?
THE advance refund by Santander It is generally available to customers who file their Income Tax and indicate that the refund will be deposited into a bank account.
In addition, a credit analysis is carried out to assess the risk of the operation, although, due to the refund guarantee, this analysis is more flexible than in other types of credit.
Precautions to be taken
As with any financial product, it is essential to be aware of all the details involved:
- Read the contract: Make sure that all conditions, especially interest rates and possible additional fees, are clear.
- Compare: Before opting to receive your refund early through Santander, it is worth checking the conditions offered by other institutions.
- Planning: Please note that the advance payment will be deducted once your refund is deposited. Please ensure that this does not negatively impact your financial planning.
In short, Santander's advance payment of income tax refunds is an excellent option for those who need funds more immediately.
However, as always, it is essential to approach the decision with awareness and information, ensuring that this choice is aligned with your financial needs and goals.
