February 7, 2023

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IRS: “Combs” bank accounts – which deposits and why they’re under scrutiny

The Independent Authority for Public Revenue plans to pass a “refinery” this year of the balances that thousands of bank accounts had in 2017 (AADE). This is because auditing authorities are looking to identify those who have declared “crumbs” tax office, but have “large” deposits or recorded movements of excessive amounts in their bank accounts. “Medium-sized” deposits won’t escape the AADE sights either, with a new service taking over the “hairdresser.”

Vangelis Durakis writes

Each type of bank account will be targeted by the tax authorities this year, in order to determine whether the amounts and movements made in the past are consistent with the declared income of their owners, as reported. enikonomia.gr.

What are the priorities set by auditors?

The priority of control mechanisms is Bank account transactions for the year 2017 and the specified year Expires December 31, 2023 and tax office He will not be able to transfer from 1-1-2024 To audit and assess taxes.

Already, on December 31, 2022, the possibility of the Tax Office checking bank account movements for 2016 and previous years has expired.

Thus, under pressure from tax inspectors, it is estimated that taxpayers who have been exposed by the USDA’s “special” regulations, not only in the past but also today, will be caught making transactions in their bank accounts, in amounts which are not justified by the declared incomes. .

What mechanisms are activated for controls?

Deposit control mechanisms owned by AADE, are in particular:

  • the Special programs to control wealth, which has been used since May 2017 to determine total individual/family bank net worth per TIN and compare it to the individual/household’s annual reported income, to derive an estimate for hidden or non-taxable material. Through automated accounting algorithms, the system can correlate initial filing data with declared income within a short period of time, which leads to some early indications of possible tax evasion, which is the impetus for a comprehensive tax audit.
  • System of records of bank accounts and accounts payablewhich monitors the movement of audited bank accounts.
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What deposits and natural persons will the audit focus on?

At the same time, based on and specifically based on the new AADE organizational chart from next month From February 6, medium and large deposits are also being targeted.

Among the departments included in the AADE mechanism is the “Operational planning control for high and medium wealth natural persons”.

The aim of the new section is control of natural personsas long as it meets any of the following criteria:

  • The value of the property The taxpayer and his/her spouse and protected children, as calculated in the OPS wallet electronic application at the AADE, cumulatively exceed, from 1-12015 and after at least one year, the amount of €1,000,000.
  • Estimated annual cost of livingresulting from income tax returns for the 2018 tax year, exceeds an amount of €100,000.
  • The cost of acquiring assets In the 2018 tax year they exceeded €200,000.
  • They sent remittances abroad totaling 100,000 eurosin at least one year from 2015 onwards.