A tax tip to explain losses retrospectively

Berlin In many situations in life you come across the famous saying by Mikhail Gorbachev: “If you come too late, life punishes you.” But while a failure is just annoying in some cases, it can clearly affect your own account in others to make noticable. This must also be assumed by those who miss deadlines in their income tax return.

It is irrelevant whether documents were mislaid, a process simply went under or whether information was left incomplete due to ignorance.

This was the experience of a couple who had not declared any income from private sales in 2007 and 2008. In 2014, however, the two subsequently reported losses that they had incurred in the sale of securities.

However, when it became known late, the responsible tax office recognized gross negligence on the part of the taxpayer and therefore did not take these losses into account. Since the income tax assessments were already partially statute-barred, it also rejected the application for a loss assessment.