In which cases is a tax return necessary for retirees?
February 24, 2024 | 50,00 EUR | answered by Ralf Otten
Dear Tax Advisor,
my name is Christiane Dietrich and I am a retiree. This year, I have received income from pensions as well as other income from capital gains. I have never filed a tax return before, as I thought it was not necessary as a retiree. However, I have heard from acquaintances that there are certain cases in which retirees are required to file a tax return.
I am now concerned about whether I need to file a tax return despite my pension income and capital gains. I want to make sure that I comply with my tax obligations correctly and do not have to worry about any possible consequences of not filing a tax return.
Could you please explain to me in which cases a retiree like me is obligated to file a tax return? Are there specific tax-free allowances or other regulations that I should be aware of? What documents are needed for preparing a tax return and what deadlines do I need to meet?
I thank you in advance for your assistance and look forward to hearing from you.
Kind regards,
Christiane Dietrich
Dear Mrs. Dietrich,
Thank you for your inquiry regarding filing a tax return as a retiree with pension income and capital gains. It is understandable that you want to educate yourself about your tax obligations to avoid any potential consequences. I am happy to explain to you when retirees like you are required to file a tax return and what regulations you should be aware of.
Generally, retirees like you are required to file a tax return if they have additional income besides their pension income that exceeds the tax-free allowance. This also applies to any capital gains you may have received during the year. The exact tax-free allowances and tax rates may vary depending on your individual income and the legal regulations, so it is advisable to seek advice from a tax advisor.
Retirees are generally subject to the same deadlines for filing tax returns as employees. The statutory deadline usually ends on July 31 of the following year, but this deadline can be extended under certain circumstances. It is important to meet the deadlines to avoid potential fines or late filing penalties.
To prepare your tax return, you will need various documents, such as your pension statements, receipts for your capital gains, bank statements, receipts for special expenses and business expenses, etc. A tax advisor can help you gather all the necessary documents and correctly fill out the tax return.
Therefore, it is advisable to start early with the topic of tax returns and potentially seek professional assistance to ensure that you fulfill your tax obligations correctly. If you have any further questions or need help with preparing your tax return, I am happy to assist.
I hope this information is helpful to you and I am available for any further questions at any time.
Best regards,
Ralf Otten, Tax Advisor
