By Centro de Conocimiento Tributario (Tax Knowledge Center) - CCT

They got first in line -literally, because this year the Internal Revenue Service has set up a "virtual queue" on its website on its website to access the online process of Filing income tax returnsand on Friday, April 26, they saw the result in their bank accounts: more than 1,240,000 taxpayers had filed their income tax returns online. 1,240,000 taxpayers who filed their annual income tax returns between April 1 and 8, received -via transfer- the first tax refunds. tax refunds corresponding to the Operation Renta AT 2024 process.

This news, which every year is a reason to wait (and often also a relief for those who receive it), invites more than one person to ask themselves: When is it appropriate to pay income tax? pay income tax and when are you entitled to request a refund?

Here we explain, in brief and without going into technical details, what determines one scenario or the other (and even a third, about which we will tell you below).

1. Return with payment
   It corresponds to pay when the taxes and other legal surcharges included in the income tax return are greater than the credits or rebates to which the taxpayer is entitled.
   This payment, as a general rule, must be made through the online filing of Form No. 22 (declaration and simultaneous payment).
2. Return with refund
   There will be refund when the credits or rebates that the taxpayer has in his favor are greater than the taxes and other greater than the taxes and other surcharges determined in the determined in the income tax return.
   Once the SII authorizes -totally or partially- the refund, it will be deposited by the General Treasury of the Republic. deposited by the Treasury General of the Republic in the bank account indicated in the tax return (which may, in some cases, be subject to review by the tax authority).
3. Return without payment or refund
   Finally, there may be taxpayers who do not determine taxes payable and do not have credits in their favor, whose refund they are entitled to request.
   This will result in an income tax return without payment or refund, which -as a general rule- does not release the taxpayer from the obligation to file it within the deadlines established for this purpose.