Banks anticipate refund of Income Tax; see conditions

The Federal Revenue opens, as of 10 am this Tuesday (24), the consultation of the first batch of refund of the 2022 Income Tax. Only citizens with priority in payment will receive in this first release, on May 31, and the others taxpayers will have to wait for the next four lots, which will be paid between June and September. See the calendar below.

Banks offer their own lines of credit for early repayment, with interest starting at 1.78% per month. The amounts to be paid in advance and the fees applied vary according to the institution, the client’s profile and the relationship with the bank. While Banco do Brasil, Bradesco, Itaú and Santander allow loans of up to 100% of the refund amount, Caixa establishes a ceiling of 75%. In addition, some institutions have minimum and maximum amounts for granting credit.

But personal finance experts recommend caution in taking out this type of loan, especially if the goal is to make non-essential purchases. In addition, there is a risk of falling into the fine mesh due to pending in the declaration – if this occurs, it will be necessary to pay off the loan anyway, on the date established in the contract.

According to economist and financial planner Bruno Mori, credit can be beneficial for those who are in debt. “Taking money for consumption is never recommended. Anticipating the amount is only recommended for those who have some debt and are paying higher interest than the advance payment [da restituição].”

How to anticipate the refund of the IR?

The loan can only be made at the bank that the taxpayer indicated for the payment of the refund when he sent the IR statement. The request can be made through the digital channels at Banco do Brasil, Bradesco, Itaú Unibanco and Santander, and must be made in person at Caixa Econômica Federal.

After ordering, the customer undergoes a credit assessment. If approved, the money falls into the current account on the same day — with the exception of Caixa, where the credit amount is deposited the day after contracting.

Loan settlement can occur automatically, on the repayment or maturity date established in the contract. At Banco do Brasil, the payment limit is January 2023; at Itaú and Santander, in December 2022; and at Bradesco, in September 2022.

Is it worth anticipating the IR refund?

According to Mori, the fees charged in anticipation can compensate in specific cases, such as paying credit card debts and overdrafts.

“The bill is always the amount of interest I pay on this financing or form of credit that I already have against what I’m going to pay to advance the refund. Usually, it makes sense if the advance is to pay a debt with higher rates”, explains the economist. , who adds that the loan can also make sense if it’s intended to pay late water, energy or rent bills.

PAYMENT CALENDAR OF IR REFUNDS

The Revenue pays five lots of Income Tax refund in 2022. See the dates

HOW TO CONSULT THE FIRST BATCH OF REFUND

In order to know if he will receive the refund, the citizen must make the consultation on the internet, on the website of the Federal Revenue Service or on the e-CAC Portal, which is the Virtual Service Center of the tax authorities. To consult through the e-CAC, you must have a gov.br password.

As soon as the consultation is released, the taxpayer can use both the My Income Tax, in the e-CAC, and the “Consult IRPF Restitution” service.

“This second service only allows checking whether the refund was included in the batch. More detailed information can only be obtained using the extract”, says the tax authorities. In this case, you will need to inform CPF, date of birth and the characters that appear on the screen.

The first batch of IR will be paid to 3.4 million priority taxpayers, totaling R$ 6.3 billion.