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The deadline for filing your income tax return is approaching! For some departments, it has already passed. To ensure you don't miss this critical date, we’ll break down the various deadlines by department. But is it a big deal if you miss the tax filing deadline? Yes, you will be subject to late penalties that will increase the amount of tax you owe. And what should you do if you realize you made a mistake? Don't panic—there are ways to correct your errors without any issues. Let’s take a look!
Tax filing deadlines by department
The deadline for filing income tax returns online is spread across several dates. Depending on your department, the cutoff date varies for departments numbered:
- 1 to 19, the filing deadline is May 24, 2022 20 to 54, the filing deadline is May 31, 2022 55 to 976, the filing deadline is June 8, 2022
Multiple deadlines are set each year to prevent the website from being overwhelmed by a high volume of simultaneous connections, which could cause slowdowns or even a complete system failure. This would prevent taxpayers from filing their returns and eventually lead to delays in processing, causing significant administrative follow-up issues. Remember that filing an income tax return is mandatory, even if your taxes are withheld at the source.
For paper income tax returns, the deadline for submission is also fast approaching. You have until May 31 to complete and mail your paper return; please note that the postmark serves as proof of the date. The original deadline was May 18, but significant delays in mailing out forms led to an extension. It is also important to note that online filing has been mandatory since 2019. Only individuals without internet access or those unable to use the online filing service may submit their income tax returns via paper form.
Late filing penalties: surcharges and formal notices
From the very first day your income tax return is late, you are subject to a 10% surcharge on the tax due. This initial surcharge does not require the issuance or receipt of a formal notice; it is applied automatically starting on the first day of the delay.
If you receive a formal notice and do not file your income tax return within the following 30 days, you will be subject to a 20% surcharge on your tax due. If you still have not filed your return within 60 days of the formal notice, a 40% surcharge will be applied to your tax due.
Finally, in the worst-case scenario, you face an 80% surcharge on your tax due if it is discovered that you have concealed income.
In general, in addition to surcharges, late filing of your income tax return incurs late payment interest amounting to 0.20% of the tax due per month. This corresponds to an annual interest rate of 2.4%.
Correcting errors on your tax return: when and how?
If you realize you made mistakes on your income tax return, you can modify and correct it. The method depends on the status of your return and the date. If you notice your error before your department's filing deadline, you can go back to your return at any time—even after signing and submitting it—and change the information provided. Simply log in to your personal account, access your return, and click "correct." You will receive an email confirming that the changes have been processed.
If you realize your mistake after your department's filing deadline, you can still correct it later. From August 2022 until mid-December, an online correction service will be available to help you set things right. If you are reporting a change in family status, however, you will need to provide supporting documentation to the tax authorities.
If you are unsure how to report your rental income and are afraid of making a mistake, Climb can assist you with reporting your rental income and, most importantly, help you reduce your taxes through your rental activity. With their expertise, you will learn in just a few steps how to best manage your income and how to file your taxes in the most efficient way without falling into common traps.
In short, the deadline for filing your income tax return depends on your department. It is advisable to file on time to avoid surcharges or late interest. Finally, it is possible to correct errors on tax returns regardless of whether the return has already been filed; only the process changes. Feeling relieved now?
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