it begins ! Payment dates in 2023

TAX REFUND. Millions of French people are starting to receive a tax refund this Monday, July 24, 2023. Know everything.

To see appearing on his bank account a credit line in the name of the Directorate General of Public Finance is not an illusion. This Monday, July 24, 2023, millions of French people will obtain a tax refund after having paid too much during the year. They are 15 million taxpayers in total to receive money from the State. According to the DGFiP, the average amount paid will be €844. A non-negligible retrocession at the time of the summer holidays and in a context where daily prices are soaring.

But how can French people have paid too much tax? This is due to a change in situation during the year, a rate of withholding tax too high or the use of various tax advantages, such as tax loopholes or tax exemption schemes. Taxpayers benefiting from a refund already know this since they made their declaration: the amount received was indicated at the bottom of the notice of declarative situation.

In case of overpayment with taxes, the refund will take place shortly. Two dates are possible: Monday July 24 where the Tuesday, August 2, 2023. No details have been made as to the reason which pushes the State to proceed with this reimbursement in two stages. If nothing happened on July 24, don’t panic, so it could happen a week later.

Tax refunds take place in the summer for theincome tax because the tax authorities first check the information provided in your tax return. This helps determine if they owe you a refund. You don’t have to do anything. You are notified of the refund on your tax notice.

The transfer is done automatically. You can spot it with the wording “REMB TAX REVENUS” on your bank statement, coming from “DGFIP FINANCES PUBLIQUES”. If you have not sent your bank details in time, you will receive the reimbursement by check letter.

There tax return remains, despite the deduction at source, an unavoidable obligation for all taxpayers. It makes it possible to determine the total amount of income tax for which you are liable for the tax year. With regard to what you have already paid via the withholding tax, the administration establishes one of the following situations:

1. Your source deductions turn out to be lower than what you actually owe: in this case, you must pay a balance of income tax in mid-September.
2. Your source deductions exceed the total amount of income tax: in this case, you are entitled to a refund from the tax authorities.

This is why it is essential to notify the tax authorities in the event of a sharp rise or fall in your income, in order to adjust your withholding tax rate.

Since the introduction of the withholding tax, regular tax credits, such as the employment of an employee at home or the cost of out-of-home care for children under six years of age, have been subject to very specific treatment. In mid-January, they are subject to a payment of a deposit of 60%. The amount of this deposit is calculated according to the information mentioned in your tax return.

In the spring, you indicate the sums eligible for a tax credit regular, which allows the tax authorities to establish whether you can indeed benefit from the rest of the deposit or if, on the contrary, you must reimburse the tax authorities. This is the case if your childcare expenses have fallen from one year to the next, for example. Mechanically, the tax advantage also decreases.

Note: the government is currently experimenting with the contemporary tax credit. This system will therefore soon end in favor of a refund directly every month!