The 2023 Pre-compiled Income Statement comes to life. From today, 11 May, it will be possible to accept, modify and send the 730 and the Income model already completed by the Revenue Agency. This is the step that comes after the possibility of consulting one’s income which was launched on 2 May. The Precompiled from today therefore enters the operational phase. But what do you need to know to avoid oversights and mistakes? And what needs to be checked in order not to risk overpaying? Here are some practical tips.
Watch out for income
To avoid errors, in the Pre-compiled it is necessary to carefully verify the income entered. In particular those of buildings that may not be correct (due to failure to update the Agenzia del Territorio databases – ex cadastre, or due to omissions or deficiencies of the individual taxpayer – unregistered lease contracts, not terminated in advance – or for qualitative data or intended use that the AE is not able to know). It is also advisable to check the occasional services rendered to private subjects who do not cover the function of withholding agent.
Dependent family members
Dependents allow you to get tax rebates. However, the data may not be updated correctly. For example, it could have changed during the year, for example in the face of a child or spouse who has earned gross income above the established limits. Or following a sentence of separation or divorce.
Beware of passive interest
The subjective and objective requirements that allow deductibility are the responsibility of the taxpayer (apart from the destination of one’s own main residence or that of one’s family members, there are countless types of mortgages for which different deductibility rules have followed one another over time).
Optional social security contributions
This is another item that should be checked in the pre-compiled form: social security contributions and optional and obligatory: it is said that the system is not able to match even those paid for domestic workers.
Payments to pension funds
This is an aspect to pay close attention to: payments to supplementary pension funds are deductible from income. You must remember to enter this item.
Deductions relating to building renovations
Those spread over several years and carried over from previous years could end up off the radar. There could be the case, for example, where the home has been alienated without explicitly providing for the maintenance of the right to deduct, losing it to the benefit of the buyer.
The credits
Then pay attention to the credits of the previous year and any uses in compensation. It is necessary to pay attention to the reference years or to the wrong tax codes. But also to any down payments.
The news
This year the Pre-compiled form is accompanied by important new features: the Pre-compiled form will be easier to use, thanks to the possibility, starting next April 20th, of delegating a trusted person both online and via videocall. This is a novelty that many have been waiting for.
Starting this year, the Revenue Agency has new data, in addition to those it collects for the compilation, such as medical and health expenses, insurance premiums and unique certifications of employees and self-employed workers, data on mortgages and so on. The list is long, there are also veterinary expenses and contributions paid to supplementary pension schemes up to funeral expenses. This year new data will be used: post-diploma courses at state institutes of advanced training and artistic and musical specialization, expenses for rents, brokerage expenses for the purchase of properties used as first homes. All information that adds to that already present in previous years, such as, for example, social security and welfare contributions, those paid for domestic workers, university expenses, for nursery schools, expenses for restructuring and energy efficiency interventions.
The advice is to always check all the expenses entered in the Precompiled form. The risk is to lose deductions or deductions.
