2022 INCOME TAX. The dates for the 2022 reporting period are approaching! Do you already want to know the amount of your future income tax? It is possible to estimate it via different calculations. Slices, simulators and simple explanations can be found below.
[Mis à jour le 30 mars 2022 à 11h55] Income tax filing season is fast approaching and this can be a source of anxiety for many taxpayers. How much will you pay this year? Will the amount of your withholding tax each month increase? So many questions that the entry of your 2021 income on your return will answer this year. The online reporting service will be open from April 7, 2022, as confirmed by the Ministry of Finance.
As a reminder, this declaration is now used to regularize your situation. You can also modify it if your income has changed, or if your situation has changed and the information provided by the tax authorities and pre-filled in the declaration is no longer up to date. The unpleasant surprise may come from the payment of an income tax balance, for example if you have not updated your withholding tax rate and your income has increased in the meantime due to a change of professional or personal situation. To sum up, the tax return is used to regularize your situation. In the event of a balance to be paid, a sort of catch-up on the deduction at source, the new amount which you will have to pay will be deducted directly from your bank account from the month of September 2022 in one installment if the amount is less than 300 euros, in 4 installments if this amount is greater than 300 euros.
What are the dates of the tax return to remember? The 2022 fiscal calendar
the online tax return service of the year 2021 will open the 7 avril 2022. The filing deadlines differ according to your place of residence. In summary, 3 dates are fixed annually, one per zone. Here they are :
- 1time area: the May 24, 2022 for departments n° 01 to 19 and residents not resident in France
- 2th area: the May 31, 2022 for departments n ° 20 to 54 including the two departments of Corsica
- 3th area: the 8 June 2022 for departments n° 55 to 974/976
Regarding the paper tax return for the year 2021, the deadline has been set for May 19, 2022.
What are the tax brackets in 2022?
Lincome tax works with a tax scale. Thereby, a rate between 0 and 45% applies to each income bracket of the income tax scale. Very concretely, if your net taxable income is below a certain threshold, a zero rate is applied. These famous rates apply to a fraction of household income. The total amount of tax results from the addition of the different brackets. Here is the income tax schedule that currently applies, since January 1, 2022:
- Below 10,225 euros of taxable income: 0%
- Between 10,225 euros and 26,070 euros of taxable income: 11%
- Between 26,070 euros and 74,545 euros of taxable income: 30%
- Between 74,545 euros and 160,336 euros of taxable income: 41%
- Beyond 160,336 euros of taxable income: 45%
Want to know what your tax bracket is? Consult our dedicated article to find out more:
What is income tax? Definition
Income tax appeared in France with the laws of 1914 and 1917. It is a direct tax calculated at the level of the tax household, a single person or a couple and their dependent children for example. He covers all income (salaries, financial income, rents received, etc.) of the natural persons making up the household. The beholden income tax are persons having their tax home in France, or those domiciled abroad for tax purposes but receiving income from French sources. For some years now, income tax has been collected directly on income via the withholding tax, via the application of a rate or the deduction of installments, calculated from the information mentioned in the last tax declaration. Taxpayers are still required to complete a tax returneach year in the spring, in order to establish whether they must pay a balance of income tax, with regard to their deductions at source, in September.
Income taxes are taxes on income, profits and capital gains. They are based on the actual or presumed income of natural persons, households, companies and non-profit institutions serving households. They understand the wealth taxes (land, buildings) when these serve as a basis for estimating the income of their owners.
For the householdsthis tax essentially comprises personal income tax (IRPP), the generalized social contribution (CSG) and the contribution for the repayment of the social debt (CRDS). For the domain of companiesit is mainly theCorporation tax.
Income tax is progressive, that is to say that its marginal rate increases with taxable income. The calculation of the tax is also made according to the situation and the family expenses of the taxpayer and a progressive scale fixed by income brackets. The 2019 tax rates applicable to 2018 income are staggered between 0% and 45%.
Lall income (salaries, pensions, pensions, property income) that you collect over the tax year are studied by the tax authorities. First, it is necessary to determine net taxable income – information that you can find on your payslip if you are an employee. As a reminder, a flat-rate deduction of 10% is applied for professional expenses. If this allowance is less than your total professional expenses, you can then deduct the amount of your actual expenses. Have you determined your net taxable income? You must divide it by the number of shares in your tax household. This gives you your family quotient. The family quotient is used to determine taxable income for the tax household. Apply the amount obtained to the tax scale.
Do you want to calculate the amount of your income tax in order to predict what awaits you at the end of the summer? The easiest way is to use the income tax simulator provided by the tax authorities. Before starting the simulation, get your hands on the following: net taxable income, charges, tax benefits and Withholding. The more precise elements you bring, the more accurate your income tax simulation will be. You will then obtain an estimate of your tax, with the application of a discount or not, and you will know if you are liable for a balance in the summer with regard to what you have already paid.
Prefer to calculate it yourself? Calculating income tax will take you a little longer. You will have to get your hands on your net taxable income, then determine the number of shares in your tax household, deduct your expenses and then apply the income tax scale (read below), without forgetting your tax advantages (credits and tax cuts). Are you ready to take the plunge? Consult our dedicated file without further delay to find out the amount of your income tax now:
Who is entitled to an income tax refund?
Some taxpayers were pleasantly surprised to receive a refund, directly to their bank account, from the tax authorities during the summer. In detail, only two cases can lead to this situation:
- After consulting your income tax return, the tax authorities assessed that your source deductions were greater than the total amount of income tax for which you are liable for the tax year. The administration therefore reimburses the difference.
- You receive the remaining installment of the regular tax credit collected in mid-January (example: home employment, childcare costs for a child under 6 years old outside the home, etc.).
There is no process to do upstream, except to check your bank details.
In the absence of initiative on your part, the tax authorities apply a fixed deduction of 10% to all employees for professional expenses. If you believe that this allowance does not cover all of your expenses, you have the option of deducting these costs for their actual amount.
If you decide to deduct your actual expenses, keep in mind that the process can be tedious: you must list all of your professional expenses during the tax year, which requires rigorous accounting. You must keep all the supporting documents for your expenses for three years in the event of a tax audit. The costs incurred must meet a real need for your professional activity.
I am self-employed, what about my income tax?
Your tax system is that of the micro-enterprise. As a reminder, three conditions must be met to benefit from this scheme. We summarize them for you:
- Your N-2 reference tax income must not exceed a certain threshold
- Your turnover over twelve months of the previous year must not exceed: 170,000 euros (if your business sells goods, objects, housing supplies) or 70,000 euros “for other service providers under industrial and commercial profits (BIC) and liberal professionals falling under non-commercial profits (BNC),
- You choose the micro-social regime.
In this case, you will have to use declaration n°2042-C PRO and indicate the amount of your annual turnover or gross receipts. Do you want to know the rate that will be applied to you? See the dedicated tax page for more information.