Filing and Changes to the 2024 Tax Return: What You Need to Know (Unleashed)
Preparing Your 2024 Tax Returns: Key Factors to Take into Account - 2024 Tax Returns: Important Factor to Consider in Your Planning
Let's get real. It's time to talk about your 2024 tax return, baby, and I'm here to spill the beans. Here's the scoop on deadlines, changes, and tips to help you navigate the process like a boss.
When's the cut-off for filing the 2024 tax return?
The deadline for filing your tax return has seen a few tweaks in recent years. compared to last year, it's moved a month forward: The 2024 tax return must be submitted by Thursday, July 31, 2025 (weekends be damned!). If you're working with a tax consultant or a tax assistance association, you've got a bit more time—the deadline is April 30, 2026. But remember, the tax office might still demand an early submission in some cases.
Tax procrastinators, rejoice! You can still file a voluntary tax return up to four years after the deadline—so that's December 31, 2028 for the 2024 tax year. And good news for late bloomers: You can still file a voluntary tax return for 2021 before the end of 2025.
Fail to file on time, and the tax office will hit you with a late fee. That's a bitter pill: 0.25% of your assessed income tax, starting from at least 25 euros per missed month.
Can I extend the deadline?
A deadline extension is possible only in exceptional circumstances, so don't pull thatmove if it's self-inflicted. To extend your deadline, you'll need to apply informally through the responsible tax office. Reasons like illness, extended vacations, or missing documents might apply. The tax office will let you know in writing if they grant the extension and, if so, provide the new deadline. But beware: They might require you to stick to the original deadline if there are missing documents—so you'd have to file earlier with a preliminary notice, which can be corrected later.
Who's on the hook for filing?
Tax return obligations stretch to, among others:
- Couples in tax classes 3/5 or 4 with factor
- Employees in tax class 6
- Self-employed individuals with income from freelance activity or business operation
- People who received unemployment benefits (unemployment benefit I, short-time work allowance, parental allowance, sick pay) or untaxed secondary income of more than 410 euros
- Pensioners with income exceeding the basic allowance of 11,784 euros.
Filing voluntarily can bring rewards, such as a refund of excess taxes paid. According to the Federal Statistical Office, the average tax refund amounts to around 1,100 euros.
Interesting fact: Approximately one quarter of taxpayers submit their declaration in paper form. In principle, submitting forms by post is still possible for employees and pensioners without income from self-employment. However, digital submission has become the norm for the tax offices. The Elster online portal of the tax offices enables filling out and sending the tax return without paper. Receipts no longer need to be sent directly, but only need to be presented upon request from the tax office.
Alternatives to Elster include commercial tax programs or apps: They cost between 20 and 45 euros, but make the process easier by providing tips and preventing forgetting important items. It's a small price to pay for convenience. Wiso is the test winner according to Stiftung Warentest, but other tax programs perform well too.
Those who aren't comfortable doing their tax return on their own with tax software can seek help from a tax assistance association or tax consultant. The costs for this typically fall in the three-digit range, and they depend on the complexity of the case and income. Tax assistance associations are more affordable, but they are only open to employees, civil servants, and pensioners (not self-employed individuals).
Be cool: Expenses for tax consultation or tax software can be deducted from the following year's tax.
What's new in the 2024 tax year?
The federal government has some fresh updates for the 2024 tax year:
- The basic allowance has been increased, to which no taxes will be applied on income—it's climbed from 10,908 euros to 11,784 euros.
- The child allowance will skyrocket to 6,612 euros for the 2024 tax year (3,306 euros per parent). But if the child benefit of 250 euros per child is more beneficial, the tax office will take care of it for you.
- The child allowance and the BEA (allowance for care, education, and training needs of children) will no longer be reduced if the child lives in an EU member state. This regulation stems from a ruling by the European Court of Justice (ECJ).
- The mini-job threshold will increase to 538 euros per month for the 2024 tax year. This change is related to the increase in the minimum wage to 12.41 euros per hour (2025: 12.82 euros).
- Those who have moved for professional reasons after February 29, 2024, can claim higher costs as advertising expenses. The moving allowance has ballooned to 964 euros. For each additional member of the household (partner, children), 643 euros can be claimed flat-rate.
The community institution or the institution of your place of residence might provide valuable resources on understanding personal-finance matters, including the upcoming changes to the 2024 tax return. As a self-employed individual or someone with income from freelance activity or business operation, it's essential to consider the impact of these changes on your institution of the place of work and personal-finance, such as the adjusted basic allowance and mini-job threshold.
