An average payment of 639 euros will be advanced to over 9 million tax households on January 15, as announced by the General Directorate of Public Finances. This advance represents 60% of typical tax benefits and follows a reform introduced in 2019. Eligible households will receive the funds directly in their bank accounts, while those without bank details will get checks by mail. The total amount being distributed amounts to 5.8 billion euros.
An Expected Payment of 639 Euros Per Household
The General Directorate of Public Finances (DGFiP) has recently announced an “average payment of 639 euros per beneficiary household” set to impact “just over 9 million tax households.” This significant advance on tax credits and reductions will be transferred on Wednesday, January 15.
Key Details About the January 15 Transfer
On January 15, the tax administration will deposit the advance on tax credits and reductions directly into the bank accounts of over 9 million households. This information was shared in a statement from Bercy, with contributions from the new Minister of Economy, Finance, and Industrial and Digital Sovereignty, Éric Lombard, along with the Minister responsible for Public Accounts, Amélie de Montchalin.
This advance has become a routine practice for households benefiting from tax credits and reductions, following its introduction in 2019. The initiative was part of a reform to the withholding tax system, aiming to ensure that these households receive their rightful credits without delays. While your income is deducted monthly for the current year, the actual benefit from your tax credits and reductions will not be available until next summer. This advance represents 60% of your typical tax benefit, calculated from the credits and reductions you received last year.
For those looking for specifics, the exact amount of the advance will be available on impots.gouv.fr. The DGFiP will also issue an information letter in digital format to the beneficiary households, notifying them of the bank transfer scheduled for January 15. If you’re eligible, expect to receive this notification via email.
The average payment this year stands at 639 euros per household, marking a slight increase from last year’s average of 634 euros and 624 euros in 2022. In total, the tax authorities will be advancing a remarkable 5.8 billion euros, as stated by Bercy on January 8.
When you see the DGFiP Public Finances transfer noted on your bank account statement next Wednesday, it will be labeled as ” Advance CredImpot,” following the usual yearly convention.
What If the Tax Authorities Lack Your Bank Details?
There’s no need for you to take any action to receive this advance; it will be automatically credited to the eligible households. However, if the tax authorities do not have your bank details on file, there is a different process in place. Last year, around 183,000 tax households fell into this category. For these taxpayers, the advance will be issued in the form of a check sent by mail, which they can cash directly at their bank by the end of January.
For those wondering about the absence of an advance on credits and reductions, it’s essential to check your tax records and ensure your banking information is up to date with the DGFiP.