You can't do anything before your first coffee in the morning? You're not the only one who sometimes has a certain „start-up inhibition.“ 😉

Even the tax legislator has one - in Section 170 of the Tax Code. The latter can even be useful to you! How?

Have you ever heard of the „assessment limitation period“ in connection with your tax return? Another strange technical term. Once it has occurred, the tax office may neither record nor amend assessments.

The general limitation period for the assessment of income tax is 4 years. It begins at the end of the year in which the tax arose.

It's just a shame if you submit your tax return voluntarily just before the deadline and expect a big refund.

This is where the tarnish inhibitor helps!

It postpones the start of the limitation period so that it only begins at the end of the year in which you submitted the tax return.

One example: The limitation period for income tax 2021 actually begins at the end of 31.12.2021. The tax would therefore be time-barred on 01.01.2026.
You are not obliged to submit a tax return, but you voluntarily submit a return for 2021 in December 2025. And then?

Thanks to the suspension of the limitation period, the period does not begin to run until the end of 31.12.2025. The tax office can therefore process your tax return in the course of 2026 without the statute of limitations running.

As you can see, we know the little tricks 😉

👉 Don't hesitate to contact us if you have any tax problems!
We will be happy to assist you with your tax concerns: www.wsb-berater.com

#Income tax #TTax office #Tax knowledge #Tax tips #WSB