All checking accounts end up under the magnifying glass of the tax authorities, with some errors that can lead to having to deal with relative consequences. So let’s get into the details and see what it is.
“they say the Capital It doesn’t make happiness, but if I had to cry, I’d rather do it in the back seat of a Rolls-Royce than in the back seat of a subway car.“Happy Marilyn Monroe. Indeed there is no denying how I am CapitalWhile it does not guarantee happiness, it does help in solving a lot of problematic situations. From weekly shopping to InvoicesOn the other hand, there are many times when you find yourself having to put your hands in your wallet to pay for related goods and services.
If all this wasn’t enough, the impact of Covid onEconomie Many people are forced to deal with difficult management family budget, thus paying more attention to saving. In this regard, it is good to know that the various movements were carried out on the Bank account Ultimately attracting the attention of tax authorities, with some Errors Which may lead to having to deal with relative consequences. But what is this? Let’s get into the details and see what we can know about it.
Current Account, Beware of Movements: When Starting Tax Checks
Thanks to the record of tax relations, the Internal Revenue Service can always check the various movements in the taxpayer’s current account. Precisely for this reason, it is good to know that there are mistakes that are generally made, and that can lead to having to deal with dire consequences. In particular, the tax authorities concern is Large capital inflows, especially if they are going abroad.
The revenue agency can then decide to conduct an investigation, in order to verify the presence or absence of an evasion attempt. But not only that, to end up under the magnifying glass Unjustified bank transfers, me too Cash payments to the current account. A case, the latter mainly pertaining to the self-employed, who risk dealing with penalties if they are unable to justify the source of the money.
In these cases, in fact, the IRS may think that it was income from an illegal business. Precisely for this reason, you should always have a file justification, thanks to proving that the financial amounts in question are not taxable, as required by Article 23 of Presidential Decree No. 600 of 1973.
It should not be overlooked, then, Transactions between husband and wife, especially if there are particularly large financial flows and if one of the spouses does not have sources of income. Even in this case, in fact, it is a situation that can lead to the thought of doing an illegal act.