Tax Filing Season 2024: Essential Steps for a hassle-free filing experience
Tax filing season 2024 is starting on 1 July and as tax practitioners, it's crucial to ensure that everything is in order to facilitate a smooth process for both you and your clients. Here's a quick checklist to help you prepare for the tax season starting on 1 July 2024:
1. Verify Bank Details:
It is important to ensure that SARS has your correct banking details. This ensures that refunds due to you are correctly paid out.
Log in to your SARS eFiling account at sarsefiling.co.za.
Navigate to ‘SARS registered details’ > ‘Maintain SARS Registered Details’ > ‘My Bank Accounts’.
Review your bank account information. If changes are needed, you can edit them on this page and remember to click ‘Submit’ after making any updates. If there are no changes necessary leave it as SARS will pay refunds into this account.
Visit the following link to obtain information on how to amend banking details: Adding or Changing Banking Details | South African Revenue Service (sars.gov.za)
See the following video: How to Update Banking Details on eFiling (youtube.com).
2. Update Your Registered Details:
Still on the SARS eFiling portal, check and update other registered details such as addresses, email addresses, trading names, and security settings under the same ‘Maintain SARS Registered Details’ section.
3. Confirm Your eFiling Login Credentials:
Try logging into sarsefiling.co.za to ensure you remember your username and password.
If you’ve forgotten your credentials, use the ‘Forgot Username’ or ‘Forgot Password’ options available on the site to reset them.
4. Update Security Contact Details:
If your security contact details like email or phone number have changed, update these in ‘My Profile’ on the eFiling portal. For significant updates, you may need to contact SARS directly via their helpline or visit a branch (make an appointment first).
5. Stay Informed:
Regularly check the ‘Filing Season 2024’ webpage for any updates on deadline dates and other important information to keep yourself and your clients well-informed.
By following these steps, you'll ensure that you are set up for a hassle-free filing experience. Remember, a little preparation goes a long way in making tax season as smooth as possible for everyone involved!