Should you still file your ANNUAL RETURN if you were laid off? This is what the SAT says – Teach me about Science

Work life is full of changes and transitions. Sometimes, you find yourself in a stable job and the next year, due to various circumstances, you are forced to change or even lose it, unfortunately. But, Did you know that, regardless of these job changes, you have the responsibility of submitting your annual tax return? Yes, it is a crucial issue that many overlook, but it can have significant financial implications if I dont know addresses correctly.

Think about this: you changed jobs last yeareither because you were fired or you decided to resign. In many cases, when you leave a job, you receive a severance payment. Now, it is fundamental understand that this type of income, along with any other cumulative income that you have obtained during the fiscal year, must be reported to the Tax Administration Service (SAT) by submitting your annual tax return Income Tax (ISR).

He SAT it clarifies to us that this obligation is not limited only to those who receive salary income. If during the year you received income from retirement, pension, liquidation or any type of Labor indemnification, you are required to submit your annual return. It is a regulation that seeks to ensure that everyone contributes fairly to the tax systemregardless of your employment situation.

Now, you may wonderHow do I know how much I should declare? He SAT has made a very useful tool available to taxpayers: an online simulator. This simulator allows you verify your income, personal deductionscalculate the ISR that you must pay and even identify if you are entitled to any tax refund. Is a friendly tool and easy to use that guides you step by step in the process of review and presentation of your statement.

Access simulator is simple. You just need to enter the official portal of the SATgo to the section statements and select the option “See more”. Subsequently, choose the annual declarations section corresponding to the fiscal year that concerns you. Once there, log in with your Federal Taxpayer Registry (RFC) and passwordor if you already have it, with you and.sign. Upon accessing, you will be able to see the preloaded information and you will have the opportunity to review it and complete it as appropriate.

Now, why is this process so important?

Beyond being a legal obligationpresent your declaration Yearly tax allows you to maintain your situation prosecutor in order. Avoids possible fines and sanctions for tax non-compliance. Furthermore, at declare correctlycontribuyes al financing of essential public services, such as health, education, security, among others, that benefit the entire society.

It doesn't matter that you have given up, have fired or you have changed of work, it is fundamental Do not neglect your fiscal responsibilities. Filing your annual return is a legal obligation, In addition to being a way to maintain good order financial and contribute to the development and economic well-being of the country, although the latter still depends on others more factors.