Tax return 2019: Last chance for employees on repayments!

Tax return 2019: Last chance for employees on repayments!

Österreich - workers in Austria should urgently make sure to submit their employee assessment by December 31, 2024, as Kosmo . This period, which is emphasized by Günther Goach, the President of the Chamber of Labor, is crucial for all those who may do without valuable tax refunds. Many employees are not aware of the advantages and miss the opportunity to offset already paid wage tax with various expenses. Sole earners, single parents and commuters who can benefit enormously from the income tax compensation are particularly affected. This compensation is also important for apprentices and employees with changing employment relationships.

meaning of the year of income tax

The basic principles of the year of income tax are not clear to many employees. This form of tax adjustment is used in Germany to compensate for incorrect tax deductions by the employer, and is mandatory for companies with more than 10 employees, such as Stotax . Employees have the option of receiving too much wage tax due to this process, since they are often excessive due to special expenses or tax allowances. If the employer does not make the compensation himself, it can also be requested afterwards via the income tax return, which offers further advantages.

The implementation of a year of income tax is done in several steps: First, the employer checks the need, adds gross wages and calculates the correct annual wage tax. Deviations are then compensated for and confirmed in the year. Employees should therefore find out in good time whether their employer will compensate for such a compensation. Those who do not receive an offer for a year of income tax should consider their tax return independently to secure their individual financial advantages.