INCOME Model for Individuals, what is it?

The Model INCOME Individuals – PF is the alternative declaration to Model 730. It is usually used by self-employed workers with a VAT number, but it is also used by other types of taxpayers.

Unlike the 730, the Physical Persons Income Model – PF has a more complex structure, as it is made up of three different “files”. The first file, mandatory for all taxpayers, must be completed with the data identifying the declarant (title page), the prospectus of dependent family members, the types of income and deductible / deductible charges (land, buildings, employee / pension, medical expenses, mortgages, etc.). The second file contains the frameworks necessary to declare the social security contributions and other income of taxpayers not obliged to keep accounting records, as well as the RW framework for investments abroad and the AC framework for condominium administrators.

Finally, the third file contains the necessary frameworks to declare other income from taxpayers obliged to keep accounting records. Basically, therefore, those who have received only income from employment, land or buildings, will be able to fill in only the first file, while the holders of a VAT number will have to fill in, in addition to the first, also any additional sections of the second and / or third file. .

 

Requirements

 

Taxpayers who:

  • have received business income, including in the form of participation,
  • have received self-employment income for which a VAT number is required,
  • have received “different” income not included among those declarable with Model 730,
  • have received capital gains deriving from the sale of qualified shareholdings or deriving from the sale of non-qualified shareholdings in companies,
  • have received income from “trusts”, as a beneficiary,
  • they are not resident in Italy,
  • must also submit one of the following declarations: VAT, IRAP, Model 770,
  • must file the return on behalf of deceased taxpayers.

They are also obliged to use the INCOME Model for Individuals – PF:

  • employees who have changed employer and are in possession of multiple employee or similar certifications,
  • employees who have received indemnities and sums by way of salary integration or other reasons directly from INPS or from other bodies, if the withholdings have not been made by mistake or if the conditions for exemption are not met,
  • employees who have received wages and / or income from private individuals not required by law to make withholding taxes (for example family collaborators, drivers and other housekeepers),
  • taxpayers who have earned income on which the tax is applied separately (with the exception of those that must not be indicated in the return – such as severance indemnities and equivalent, arrears, indemnities for the termination of coordinated collaboration relationships and continuous, even if perceived as heirs – when they are paid by subjects who are obliged to make withholding taxes),
  • employees and / or recipients of income similar to these who have not been withheld or have not been withheld to the extent due to the additional municipal and regional personal income tax. In this case, the obligation exists only if the amount due for each additional charge exceeds € 10.33,
  • taxpayers who have achieved capital gains and capital gains to be subjected to substitute tax to be indicated in parts RT and RM.

The INCOME Model represents an alternative to the traditional Model 730 for employees and retirees, with the difference, however, that the debt is not withheld in the paycheck, but must be paid by the taxpayer himself through the F24 Model.
Any credit, instead of on the payslips for the months of July, August or September, is instead repaid with much longer times (the wait is at least two years).

In some cases, however, the INCOME Model becomes an obligatory choice:

    • when the taxpayer forgets to do so or is unaware of having to do so.
    • The model must also be made to correct certain types of errors committed in the original 730. It would therefore be a question, in this case, of a corrective declaration within the terms, that is, to be submitted in any case within the ordinary deadline of November 30th.

What is the Model INCOME Individuals – PF corrective in terms?

Certainly a more favorable situation for the taxpayer, however untruthful, that is, a tax situation which could result in a tax lower than the real one or a refund higher than due.

The corrective income model is used when the taxpayer has declared untrue amounts and is used to correct the declaration already made.
Through the corrective declaration, the errors or omissions committed in the original 730 will therefore be corrected, thus bringing out a condition of greater debt or less credit than that resulting from the incorrect declaration.

 

 

INCOME Model for Individuals: how to get it?

 

The INCOME Model must be submitted electronically no longer by 30 November of each year, relative to the previous tax year.

PWS will assist you in filling out and submitting the template.