Are tax refunds taking longer this year?

Are tax refunds taking longer this year?

SAT tax refund 2019

After filing your annual tax return and if you have a credit balance, the SAT usually refunds your taxes within a period of no more than 5 business days. If this period is over and you have not received the payment, you should check the status of your refund.

The five-day term guaranteed by the Tax Administration Service (SAT) to refund taxes can be extended up to 180 days, in case irregularities are found in the fiscal year for which you are requesting the refund.

In case the term is longer than 10 days, you must make a normal request for a refund. Upon receiving it, SAT will have 40 business days to issue a resolution either refunding the money or letting you know the reason for not proceeding with the payment.

The sat has not returned my balance in favor 2019

The tax authorities facilitate the process to assert your right to a tax refund. This means that the procedure is carried out automatically if it is equal to or less than 150,000 pesos. If the balance in favor exceeds this amount or if you are an individual who obtained income derived from assets or businesses in joint ownership, marital partnership or inheritance, you can request it with an electronic signature through the Electronic Return Form.

To find out if you deserve a VAT refund, you need to enter the “Buzón Tributario” section of the SAT website and then click on “Refunds and compensations” to make the request.

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It may happen that your automatic refund is not authorized, or is partially authorized. The Tax Administration Service’s website explains both the different reasons for this happening and the actions you should take.

Thus, the amount of the authorized balance may be partial if there is a difference in the information on transactions with withholders, deductible expenses or incentives. Now, what can you do if your credit balance is not authorized or is partially authorized? The measures recommended by the SAT itself are:

What happens if the sat does not refund me in 40 days?

To enforce your right we facilitate the process by offering you the possibility of receiving it automatically, this administrative facility applies to all individuals who file their Annual Return, normal or complementary of the current fiscal year and are located in the following assumptions:

It is important to note that a refund is made automatically if it is equal to or less than 150,000 pesos; if the balance in favor exceeds this amount or in the case of individuals who obtained income derived from assets or businesses in joint ownership, marital partnership or inheritance, it can be requested with an electronic signature through the Electronic Return Form.

Sat tax refund 2021 for individuals

The State Agency of Tax Administration had six months to order the refunds of the 2020 income tax returns in favor of taxpayers: that is, it should do so before December 31, 2021 .

Once that deadline has passed, if you still have not been refunded the money (and the delay is not due to causes attributable to the taxpayer), you are entitled to be paid default interest by the Treasury from December 31 until the date on which the refund is ordered. You do not need to claim it: they should automatically increase what they owe with the amount of late payment interest, which for 2022 is 3.75%.

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