Loan for tax back payment – what does late payers expect?
Your desire for a loan for back tax payments has priority. Because the father of the state uncompromisingly expects every citizen to pay his taxes on time. From 2017 we will even pay a fine before the tax office issues a warning, according to the Focus reported in May. Every year in the second week of July is the taxpayer day, from which everyone actually works for himself.
In mathematical terms, only about 47.6 cents of every USD earned in 2015 is actually due to the person who made the money. Many taxpayers don’t like what our state does with all that money afterwards. Nevertheless, it is pointless to have a justice debate with the employees of the tax office. The receivables from the tax office have to be paid on time or the state power strikes hard.
If the tax office involuntarily grants the loan for the additional tax payment due to lack of payment, it becomes really expensive. Father State charges interest, despite the zero interest rate policy, a court-confirmed 1.0 percent per month. For the delinquent payment behavior, 0.5 percent of the tax liability is added as a late payment surcharge.
Who meets the tax claim – target group decides the offer
Most employees look forward to their tax assessment. A small repayment from the tax office is expected, since all taxes have already been paid from wages. Exceptions to the rule would be found for dependent employees who are also self-employed on a part-time basis. In this case, the tax claim may result from the progression of income or insufficient advance payments on the entrepreneurial profit.
Due to the annual pension increases, more and more pensioners are subject to tax. Many retirees with poor old-age income and pensioners abroad notice nothing of it at first. Until suddenly the tax office is at the door with the tax claim. Pensioners may also be affected, who supplement their old-age pension with part-time jobs and become taxable.
The third group, which hopes for a loan for the tax back payment, are self-employed, mostly sole traders. Despite tax advisors and advance payments to the tax office, it is difficult to correctly measure the actual tax liability in advance. Very few manage to put the money aside on time. This brings us to the credit options that are available to solve the tax problem.
Loan offers – how can a tax debt be financed?
The smallest of the three need groups receives a loan for the tax debts particularly easily. Employees with income subject to social security contributions, with or without a trade, use a normal consumer credit to offset taxes. The financing costs are manageable. An installment loan for the tax office in the amount of 3,000 USD currently costs almost 30 USD in interest per year.
It will be more difficult for the other two groups to get funding. For the self-employed, the credit comparison calculator offers an extremely low-interest credit option via the barclaycard loan offer. Sufficient creditworthiness could exist for the loan with the income tax assessment, in view of the tax office’s demand to pay taxes.
The situation with pensioner loans for tax is particularly difficult. Pension amounts that are well below the limit of attachability are already taxable. Pensioners abroad can completely forget a loan from Germany, as they often do not get a chance to get an ID check from abroad. A loan for back tax payment with a co-applicant would be conceivable as a real way out for regular bank credit.
Fund additional tax payment – difficult cases
In Germany, the self-employed and pensioners mostly only have access to regular credit through property collateral or guarantors. The reason for this is the income in terms of safe lending. It is attachable for pensioners, for self-employed people there is no income security as a serious proof of income for the desired loan.
The loan for back tax payments for self-employed as a pledge would not be unusual. In large cities, lending by pawnbrokers has adjusted to the needs. The lending of high-quality goods is permitted. For example, a vehicle could be mortgaged for the loan. Nevertheless, the pawnshop should only be the last resort.
For example, a loan with the vehicle letter for tax compensation could also come from private investors. Portals centiloan and trucredit are the market leaders in private to private credit and recognized for reputable credit offers. Both pensioners and the self-employed are granted daily private loans that banks probably would not have granted.