What happens to IRS expenses that are not validated?

Do unvalidated IRS expenses get lost?

The deadline to validate IRS invoices was until February 28th, but deductions can still be made manually. However, the question arises: What happens if you do not meet the deadline and classify health, education, housing, and property expenses?

DECO Proteste clarifies that - "Expenses will not be lost, but if not validated within the deadline, these expenses will no longer be automatically considered by the Tax Authority. You will have to declare these deductions manually in the IRS tax return."

And what happens to expenses with VAT benefit that have not been validated? "Until February 28th, you have the opportunity to recover the VAT spent on public transportation travel and the VAT incurred on certain expenses. This amounts to 15% of the VAT incurred on expenses such as restaurants, accommodation, car or motorcycle workshops, hairdressers and beauty institutes, gyms and other physical or sports activity spaces; 35% on veterinarians and veterinary drugs; and 100% of the VAT incurred on public transportation and subscriptions to newspapers and magazines. If you do not do it in a timely manner, you will not be able to declare these expenses in the IRS statement," explains DECO PROteste.

To later add expenses manually, you must do so when filling out annex H of the IRS declaration related to tax benefits and deductions, in " 6-C table , where health, education, homes, and property expenses should be entered".

"When entering new expenses in the IRS declaration, do I have to consider the already validated ones? Yes. The new amount to declare corresponds to the total expenses of each type (health, education, nursing homes, and real estate). Consult the e-Fatura platform to check the previously accounted value and add the missing amounts, obtaining the new total to declare," specifies DECO PROteste.

Note in the agenda: IRS: Know the important dates to meet before submitting the declaration

Stay up to date with all tax and financial news by following Poupança no Minuto on all its channels: Poupança no Minuto.