How to know if I have a credit balance on the SAT: Steps, Refund and MORE

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How to know if I have a credit balance on the SAT This is what this article is about, where you can know clearly and broadly after making the respective tax return for the year, if you have a SAT balance or not.

Here the step by step of this procedure is indicated and which are the cases where a refund of the money may occur. You can clarify the doubts and concerns you have regarding the subject. Keep reading and get to know all the aspects better.

How do I know if I have a credit balance on the SAT?

To carry out any procedure before the Tax Administration Service, especially the declaration that is made annually, it facilitates knowing whether or not there is a favorable balance. In the case of being positive the answer to the entity corresponds to make the refund of the taxes.

If you are interested in knowing the balance must have the e. signature, password and RFC. In the web portal, in the upper left part of the official web portal of the SAT, you must press where it indicates “Declarations” and then on “Submit your annual declaration of natural persons”.

You should bear in mind that this type of tax obligation applies to individuals who have incomes whose nominal interests are greater than twenty thousand Mexican pesos.

It is remembered that you must have the Federal Constituent Registry or RFC, since this instrument contains the code that gives access to the Tax Administration Service (SAT). Likewise, to know if we have a credit balance It is necessary to know which tax regime it belongs to, whether it is an individual or a legal entity.

There is a tool that is available for individuals with different income levels and serves as a simulator of the Annual Returnl. In this simulator you will load and review the income, make the preload of provisional payments.

It may be an available option to do the consultation to find out if I have a favorable balance on the SAT. However, it works to find out that information before the corresponding declaration.

If the declaration was made, then you must wait for the release period of the data from the governing body.

How to know if I have a credit balance on the SAT: Steps to Follow

If you have complied with the tax obligation and now you need to know if you have a credit balance, you must follow each of the instructions that are indicated to make the process easy. The procedure to know whether or not I have a favorable balance on the SAT is as follows.

Steps to follow to know if I have a credit balance on the SAT:

  • You have to know the tax regime to which it belongs being physical or moral.
  • You must enter the official web portal of the Tax Administration Service (SAT), you can do it through this link.
  • You must stop at the top left of the page and click on the section Tax Mailbox and Declarations.
  • Then press the option File your annual declaration of natural persons per year.
  • You will immediately be redirected to the page where there is a form that you must fill out with your RFC, e-signature or portable electronic signature and password.
  • After, check what type of income you want to declare depending on the tax regime to which it belongs.
  • In addition, in the preliminary data it must verify deductions, income and / or provisional payments that are correct.
  • If not, they must be modified or completed according to the corresponding case.
  • Attach the documents that correspond.
  • At the end, you can find out if you have an amount to pay or not.
  • Also, you can know if you have a credit balance. If this is the case, you should try to sign and send.
  • Then you must do the printing of your electronic receipt provided by the portal of the Tax Administration Service (SAT).

Due to the Covid 19 contingency, the Tax Administration Service (SAT) established a period of three continuous days to present the Declaration and the balance in favor is returned.

How to know if I have a credit balance in the SAT: Request a Tax Refund

When you file your annual tax return and have a positive balance, you don’t have to worry about whether or not you will get your money back.

Every year the Tax Administration Service (SAT) makes refunds to taxpayers in the event of a favorable balance from Income Tax (ISR) and Value Added Tax (VAT).

The request for return to be made online is by:

  • Positive balance.
  • By payment of the undue.
  • Asset tax from previous years.

If you adequately complied with your tax obligations, you can make a request to the Tax Administration Service (SAT) for the refund of the balance in favor following the following procedure:

  • You must have the password and electronic signature.
  • For requests for refund of conventional VAT, the Informative Declaration of operations with Third Parties.
  • The request for the return of natural and legal persons can submit the request for the return of balances in favor through the Electronic Return Format through the Tax Mailbox that appears on the website.
  • Likewise, you must fill out the form with the required data.
  • Attach and send the documents that they request.
  • You will get the electronic receipt of the voucher.
  • You must wait for the response of the Tax Administration Service (SAT).

According to statistics, the Tax Administration Service (SAT) reports that in recent years approximately two million individuals presented the annual return have been benefited with the respective refund.

How to know if I have a credit balance on the SAT: When is the refund made?

The reimbursement request is made automatically once the statement is completed, in case you have a balance equal to or less than 10,000 pesos in favor. But, If the amount is greater than 10,000 pesos but less than 150,000 pesos, you need a Clabe account that is preloaded.

On the other hand, ehe money refund process is not done automatically when the positive balance is greater than 150,000 pesos; likewise, if your income has been obtained by:

  • Assets, jointly owned businesses.
  • In the case of the conjugal partnership.
  • List of condoned and defaulted taxpayers.

Common doubts

When it comes to topics like this, there are always common issues, concerns, and doubts. Therefore, the most common concerns regarding the issue of How to know if you have a favorable balance on the SAT are those mentioned below:

How can I obtain the Federal Constituent Registry (RFC)?

It is easy and fast to get it, you just have to enter the following link.

What can the Federal Constituent Register be useful for?

It is useful when making the annual tax payment, but you can also carry out other processes such as the following:

  • To do it credit card application.
  • Also for open bank accounts.
  • In the case of Propierties sell.
  • Likewise, if you want to have access to scholarships and social programs.

What is the SAT?

The Tax Administration Service (SAT) is a decentralized entity of the Ministry of Finance and Public Credit (SHCP). The Tax Administration Service (SAT) is independent with certain autonomous powers and powers, although it follows the mandates of the assignment body.

The main purpose is for individuals and legal entities to contribute to public spending. The Tax Administration Service (SAT) is in charge of supervising taxpayers for compliance with tax and customs practices. Too, should incentivize and facilitate voluntary compliance, in addition to providing information for the design and evaluation of tax policy.

At In 1995, the Tax Administration Service Law was published and this decentralized body was created and in charge of the power to act as the highest tax authority.

This institution must generate the required instruments so that the taxpayer can easily comply with the respective contributions.

The Mission is to collect tax and customs resources that are provided for in the Law, giving the taxpayer the tools required for voluntary compliance.

After reading this article on How to Know If I Have a Credit in the SAT, you could realize how easy it is to make the corresponding query. If you liked the information, you can share it with whoever you want.

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