Letters from the IRS on TFS and TFR reach workers, it’s not good news – Abruzzo Cityrumors

There is no good news for employees, they must prepare to receive letters from the taxman regarding TFS and severance pay.

For most workers, there never seems to be enough money, this is obvious to everyone, especially since wages have been stagnant for some time, and cannot be the same can be said about the cost of living. Even just going to the grocery store has become a challenge, it is clear how strong the price differences are compared to just a year ago.

It is also for this reason that those who are employees can only look favorably on the idea of ​​being able to have a small nest egg that they can use as soon as they need to. work often or only when they have broken into the relationship with a company. This is the main role of TFS and TFR, although the future prospects do not look good for change.

Letters coming from the tax authorities for employees: what will happen soon

Receiving a letter from the IRS always generates a feeling of near dread, even in those who know that they have always behaved properly and, apparently at least, have nothing to fear. In these cases, of course, you will think that you have forgotten to pay something or that you have made a mistake when you submitted your tax return, which is why that costs that are not accessible to everyone must be resolved.

This is not exactly the situation many workers will soon find themselves in, even if several in their hands communication that might cause some excitement. The reference is to an advertisement prepared byRevenue Agencywhich wants to be as transparent as possible with taxpayers, even when the news is not so exciting.

The letter will be concerned tax adjustment on TFR for public employees who have already received their severance pay. In fact, the TFS (End of Service Compensation for public employees) that has been set aside is not taxed immediately, but only when it is disbursed as payment. separation or as advance.

Whoever got the amount they deserved may have noticed how this shows amount taken from the tax back by INPS fixed, calculated at an average of 23%. However, there may be a change in the fee payable depending on the situation, this is what you need to prepare for.

In the case of public employees, for example, an average rate will be applied, equal to the fees payable for the previous two years. However, in the case of other employees, those who have chosen to leave the TFR with the employer must expect fees that may differ depending on the size of the company.

If a decision was made to allocate to a pension fund thinking that this could increase the amount, everything will depend on the duration of the investment. The Revenue Agency also takes care of recalculating the IRPEF adjustment after some time compared to the initial tax applied at the time of payment, with the assurance that no interest or penalties imposed. If there is an amount to pay, there will be no charge.