June 26, 2022

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Christmas checking accounts, revenue agency fines arrive

Tax checks on checking accounts and money movements intensify during the Christmas period

when they move large sums of money From one side to the other, one exposes oneself to the risk of strict control by the tax authorities. During the Christmas period, the controls are much stricter and not only withdrawals from checking accounts or ledgers end up, but also cash deposits in your bank account or donations to other accounts, under the magnifying glass. Generally, Checks internal income and monitors all checking accounts, without paying attention to what class the taxpayer belongs to and instead focusing on suspicious bank deposits. In particular, the movements that attract the controls are 3: Withdrawals, deposits and transfers.

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The tax authorities are generally concerned with the movements of large capital flows, the money entering Italy and the transfer of funds abroad. However, there is no need for major moves to counter the sanctions. It often takes very little and is willing to incur a tax penalty, such as a small, unjustified down payment. Also Make a bank transfer in favor of their children In some cases it may involve activation of the verification system by the revenue agency. If the donation in favor of a child exceeds the €2,000 limit, set until December 31, 2021, it is better to proceed with traceable payments, so as not to violate the money laundering law.

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limits, From January 1, 2022, to a thousand euros. It is possible to declare unexpectedly received funds to the tax authority and justify the source of the exempted non-taxable funds by way of proof. Otherwise, in the absence of evidence, the IRS imposes penalties on the amount of money received. Expenses, travel, compensation for moral damage, donations are not required to be declared. Since the transfer is a tracked payment, in fact, it is possible to justify the source of funds, especially if this amount is intended for purchases that apparently do not correspond to the income situation. In order to avoid taxes, it is useful to indicate in the reason for the transfer that it is a gift, and even better if you indicate the purchase that will be made. In any case, amounts less than 100 euros are not subject to tax.