Tax refund
January 11, 2013 | 25,00 EUR | answered by Michael Herrmann
Hello,
I had an income tax class III of approximately 32,000 euros from 01.01.12 to 31.05.12. In addition, I received a severance payment of approximately 150,000 euros in my May paycheck. My wife, in tax class V, earned approximately 33,000 euros in 2012.
Good day,
I am married and lost my job in June 2012. I received a severance payment of 160,000 euros (Fifth rule), of which approximately 50,000 euros were deducted as income tax. Since then, I have been unemployed. Now, the question is how much can I expect to receive back in my income tax return?
Thank you very much for your help.
Answer:
Dear inquirer,
The question cannot be answered without essential information. Please provide details of your gross income until June and how much your wife earned in 2012. Then, a rough estimate of your tax refund can be made.
Best regards,
Michael Herrmann
Tax consultant
Dear inquirer,
First of all, thank you for your request, which I would like to answer based on the information provided and in the context of your inquiry for initial consultation. The response is based on the facts presented. Missing or incorrect information regarding the actual circumstances can affect the legal outcome.
Based on your information, the income tax/solidarity surcharge, without considering church tax, children, work-related expenses, and other tax deductible expenses, is approximately 71,850 €. Unemployment benefits of 2,000 € per month (7 months = 14,000 €) were taken into account with the progression clause.
After deducting the estimated income tax payments of approximately 65,420 €, there is a remaining payment of 6,430 €.
Severance payments are subject to a reduced tax rate as extraordinary income. The reduction is already considered in the income tax deduction. However, additional income, such as other employment income, may distort this result, potentially leading to a payment due. In your case, the tax reduction on the severance payment is approximately 8,500 €.
I hope that these details have provided you with a sufficient overview of the situation in the context of your inquiry and initial consultation, and remain
Yours sincerely,
Michael Herrmann
Graduate Financial Economist (FH)
Tax consultant
