“What Happens If You Forget to File Your Tax Return or Make a Mistake? Risks and Penalties Explained”

What happens if you forget to file your tax return or if you make a mistake? Here’s what to do and what you risk.

When it comes to tax returns, it should be remembered that the last day available to send the 730 form via the web application or with the assistance of Cafs and intermediaries is 23 July. Sand you have failed to file your tax return within the set deadlines, you may incur different types of sanctions.

Those who have not yet submitted their declaration can use the income modelwhich expires on October 31st. Otherwise, the credit can be used in compensation, recovering the unused sum from the 730 of the following year. In case you have a tax debt, you can proceed to payment of the sum by 20 August following through the F24 model, with an increase of 0.40%.

Even if the tax return contains errors fines may be incurred, but the situation depends on the nature of the mistakes made. If the errors concern formal data, such as the tax code or date of birth, there are no risks. Instead, if errors relate to income information and tax deductions, you may run into penalties and tax recovery.

In case you notice any errors after submitting the template, you can always make corrections. Depending on the type of error, you can resort to the 730 amending or supplementaryo al corrective income modelby October 31st.

But what happens if an omitted or incorrect tax return is not remedied?

In case of failure to send the 730 model or the Unico model, you may run into administrative sanctions ranging from 120% to 240% of the amount of taxes owed, pursuant to art. 1 paragraph 1 and 3 of Legislative Decree 471/97. From 2016, if the taxpayer submits a new return within the terms of the return for the following year, the penalty will range from 60% to 120%, while if he does not submit a new return, it remains 120% to 240%. In any case, you can take advantage of the voluntary repentance within 90 days.

In case of omitted declaration without taxes due, the penalties applied range from from 250 euros to 1,000 euros. If the declaration is presented within the deadlines of the following year, the fine ranges from 150 to 500 euros.

In case of false statement, the penalties applied range from 258 euros to 1,032 euros only for VAT, while for IRAP the fine can go up to 2,065 euros. Since 2016, the fine ranges from 250 to 1,000 euros only for VAT, while for IRAP it can go up to 2,000 euros. If the taxpayer presents the return within the following year, the penalties range from 150 to 500 euros, with a reduction of 60% to 120%. Active repentance within 90 days is permitted.

In summary, the omitted or incorrect presentation of the tax return can lead to fines and criminal risks. To avoid these problems, it is important to be careful when completing the e-declaration contact a professional in the sector in case of doubts or uncertainties. Compliance with tax rules is an obligation that all citizens must fulfill.