The South African Revenue Service (SARS) says time is running out for taxpayers to make sure their banking details are correct and up-to-date as tax season approaches.<\/p>\n\n\n\n
SARS issued an alert this week, warning taxpayers that these details are important for its auto-assessment processes, with these assessments rolling out from 1 July 2024.<\/p>\n\n\n\n
This means taxpayers have until 30 June to correct and update their details<\/strong>.<\/p>\n\n\n\n “This year from 1 July 2024 we will again issue auto-assessments to taxpayers whose tax affairs are less complicated,” SARS said.<\/p>\n\n\n\n If a taxpayer agrees with their auto-assessment, then there is no need to \u2018accept\u2019 the assessment. If a refund is due, it will automatically be paid into the registered bank account.<\/strong><\/p>\n\n\n\n If these banking details are not correct at the time of the auto-assessment, and refunds due will not be successfully processed and taxpayers will have to get in contact with SARS.<\/p>\n\n\n\n Taxpayers who do not agree with their auto-assessments will have to file a tax return manually. More details about Tax Season 2024’s auto-assessments are expected to come soon.<\/p>\n\n\n\n In the meantime, SARS urged taxpayers to double check their account details as well as their other registered details on eFiling before 1 July 2024.<\/p>\n\n\n\n Check your bank details on the SARS system<\/p>\n\n\n\n If your banking details are incorrect or have changed:<\/p>\n\n\n\n You can edit\/change the bank account details while still on the \u2018My Bank Accounts\u2019 screen . Remember to click on \u2018Done\u2019 and then \u2018Submit\u2019 once you have updated the details.<\/p>\n\n\n\n Check your registered details on the SARS system<\/p>\n\n\n\n If correct, you are all set to receive communication from SARS. If your details are incorrect or have changed, you can edit or change these details as well.<\/p>\n\n\n\n Other alerts<\/strong><\/p>\n\n\n\n Heading into tax season, SARS also warned taxpayers to be on alert for scams and other fraudulent activity, particularly relating to tax returns and money owed to SARS.<\/p>\n\n\n\n The latest scam doing the rounds comes from fraudsters purporting to be from SARS, claiming that taxpayers will be unable to file their tax return until an ‘outstanding amount’ is paid into the specified account.<\/p>\n\n\n\n The fake SARS notice threatens penalties like fines or jail time for not paying.<\/p>\n\n\n\n The revenue service said that it never provides bank account numbers in its correspondence, and if taxpayers are required to make any payments, they should only use official SARS payment channels<\/strong><\/a>.<\/p>\n\n\n\n\n
\n
\n
\n\n\n\n