Irish workers are being urged to not miss out on a sizable tax refund that works out at an average of a whopping €1,880 per person, Irish Mirror reports.
Tax refunds can vary from person to person; the average amount claimed has increased by more than €700 in recent years. In July 2022, it was revealed that almost 500,000 people overpaid a staggering €300 million in income tax in 2021.
However, the process of claiming tax money back can prove overwhelming for some. To help, Irish Mirror has provided a step-by-step guide on how to apply.
How to claim a tax refund
To claim a tax refund, people will need copies of expenses and bills that show proof of expenditure.
These will not need to be sent off during the application process but Revenue may audit any tax refunds from the last six years so these documents could be useful and should be kept.
The best time to claim a refund from the previous year is during the months of January and February, however, you can still claim money back from any of the last four years.
To start the application process, log into your myAccount on Revenue.ie. You can do so on the Revenue site here.
You must then complete an income tax return after the end of the tax year, December 31 via your account. If you have any additional reliefs or credits to add, this can be done when filling out the return form.
Here is a step-by-step guide to claiming your tax refund:
- Sign into your Revenue.ie account
- Choose ‘Review your tax’ which can be found under the PAYE Services label
- Request a Statement of Liability
- Choose 'Complete Income Tax Return'
- Here you can claim your additional expenses, tax credits and other reliefs
- Click ‘Submit’ when it is complete
When these steps are complete you will reportedly be notified within seven to 14 days to tell you how much of a tax return you are due back.
The refund will then be added to the bank account that is listed under your account on Revenue within three working days.
Source: Irish Mirror
(Link via original reporting)
Irish workers are being urged to not miss out on a sizable tax refund that works out at an average of a whopping €1,880 per person, Irish Mirror reports.
Tax refunds can vary from person to person; the average amount claimed has increased by more than €700 in recent years. In July 2022, it was revealed that almost 500,000 people overpaid a staggering €300 million in income tax in 2021.
However, the process of claiming tax money back can prove overwhelming for some. To help, Irish Mirror has provided a step-by-step guide on how to apply.
How to claim a tax refund
To claim a tax refund, people will need copies of expenses and bills that show proof of expenditure.
These will not need to be sent off during the application process but Revenue may audit any tax refunds from the last six years so these documents could be useful and should be kept.
The best time to claim a refund from the previous year is during the months of January and February, however, you can still claim money back from any of the last four years.
To start the application process, log into your myAccount on Revenue.ie. You can do so on the Revenue site here.
You must then complete an income tax return after the end of the tax year, December 31 via your account. If you have any additional reliefs or credits to add, this can be done when filling out the return form.
Here is a step-by-step guide to claiming your tax refund:
- Sign into your Revenue.ie account
- Choose ‘Review your tax’ which can be found under the PAYE Services label
- Request a Statement of Liability
- Choose 'Complete Income Tax Return'
- Here you can claim your additional expenses, tax credits and other reliefs
- Click ‘Submit’ when it is complete
When these steps are complete you will reportedly be notified within seven to 14 days to tell you how much of a tax return you are due back.
The refund will then be added to the bank account that is listed under your account on Revenue within three working days.
Source: Irish Mirror
(Link via original reporting)