Professionals and Entrepreneurs are requesting the SAT for an extension in the annual declaration

On March 10, the Tax Administration Service (SAT) published a statement inviting legal entities to file their tax return for the corresponding fiscal year of 2020, No later than March 31.

For many, that means the IRS will not extend this year. Even so, some entrepreneurs and professionals still hope the SAT will change its mind.

Recently, the public accountants in Nuevo León asked the SAT to extend the deadline for submitting the annual return. In an interview with ReshapeNora Idalia Flores Garcia, President of the Nuevo León Institute of Accountants General (ICPNL), asked the Treasury to extend the deadline for resolving technical issues in their applications.

Technical malfunctions with historic extinguishing

One of the main concerns of these professionals is that technical malfunctions can jeopardize the taxpayer process. The most important is the historical depreciation of tax losses.

According to ICPNL, when a legal entity introduces in-practice deductions greater than income, it receives a tax loss as a result, which can be increased through worker profit-sharing payments. The loss can be used to reduce profits up to the next ten years. However, some taxpayers have trouble amortizing losses from 2019 or earlier.

In light of this, the SAT suggested that taxpayers file a supplemental return for the years in which the original loss was created. After that, taxpayers must wait 24 to 48 hours and file the annual return.

Due to technical malfunctions, this solution did not serve the majority. In fact it had resulted in the unjustified provision of supplementary data; This is a problem because Section 32 of the Federal Tax Code only allows for three supplemental declarations to be filed. In addition, as noted by ICPNL, the introduction of the Supplementary renews the term that authority must exercise verification powers.

According to ICPNL, legal entities across the country have reported these technical issues.

Other major technical flaws

According to the portal Prosecutor’s Office, Taxpayers reported several problems with the annual return application. So far, errors have been reported in the utility factor for civil companies, in the yearly paid employee profit sharing calculation, in information omitted between sessions in the app and in information on interim payments.

Faced with all this series of issues, the gateway as well as ICPNL asked SAT to grant an extension.

Problems continued throughout the year

The failure to extend the extension made it more difficult for taxpayers to renew the electronic signature throughout the year, which could cause serious problems. According to a taxpayer advocate (Prodecon), this could lead to significant delays for taxpayers.

In an interview with ReshapeChristian Naziel García Ualdi, Prodecon representative in Nuevo León, explained that the lack of dates has resulted in the electronic signature expiring for many companies. These companies will be seriously affected, because without your electronic signature you will not be able to provide the annual return.

With information from Reforma, Fiscalía and El Financiero

https://www.reforma.com/piden-a-sat-aplazar-la-declaracion-anual/ar2149548?v=2

https://www.elfinanciero.com.mx/monterrey/ante-fallas-del-sat-es-necesario-ampliar-declaracion-anual-a-empresas-icpnl

https://www.fiscalia.com/publicaciones/15398

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