IRS Relief Arrives in the Summer and Savings May Exceed €2,500 by the End of the Year
The biggest IRS relief will be felt in August and September. However, in 2026, refunds may be smaller or even replaced by tax payments.
The new withholding tax tables, published this week, will leave families with a higher net salary in August and September, as employees and pensioners will have lower deductions during these two months to reflect the IRS cut approved by Parliament for this year. However, next year, refunds may shrink, and some taxpayers may even have to pay additional tax. This is because lower monthly withholdings—starting in October and continuing to increase disposable income—may result in taxpayers owing the state money when it comes time to settle accounts.
With these new tables, the government aims to free up more money for holiday spending, but the bill may come due next year, potentially bringing negative surprises.
The chair of the Certified Accountants Association (OCC), Paula Franco, considers the measure “very positive” because it reduces the tax burden on families.
Association Waives Registration Fee for Accountant Candidates
Current and prospective candidates for certified accountant status are exempt, until the end of this year, from paying any fees related to the registration process with the Certified Accountants Association (OCC).
This decision aims to eliminate any barriers for candidates who, due to financial hardship or lack of means, are unable to access the certified accountant profession. In this way, all interested individuals with the necessary qualifications can enter the professional admission system.
Tax Authority Continues to Tax Capital Gains if Inheritance Remains Undivided
The sale of a “specific and determined asset” included in an undivided inheritance is still subject to capital gains tax, as it constitutes a transfer for consideration of real rights over real estate. However, if one of the heirs sells their entire inheritance share or if the entire inheritance is sold, no tax will be levied.
