Workers are being warned to not miss out on a hefty payment that could be worth almost €2,000.
People are entitled to a tax refund with the average amount around €1,880 per person. However, many people can be overwhelmed by the process of claiming back money so here is a simple step-by-step guide on how to easily do it.
A tax refund can vary from person-to-person, however, in recent years the average amount claimed has increased by over €700. It was revealed in July 2022 that nearly 500,000 have overpaid a total of €300 million in income tax in 2021.
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People will need to keep copies of their expenses and bills to show proof of their expenditure. You won’t need to send off these during the application process, however, Revenue may audit your tax refunds from the previous six years and these documents will be useful.
The best time to claim a tax refund from the previous year is during January and February, however, you can claim money back from any of the previous four years. You start the application process by signing into your myAccount on Revenue.ie, which is found here.
This can be done via the Revenue website login or using your MyGOVID account. You will need to complete an income tax return after the end of the tax year, 31 December, through your account.
If you have any additional reliefs or credits that you need to add, this can be done when completing the return form.
Here is a step-by-step guide on 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
You will find out whether you are entitled to a tax refund and how much after seven to fourteen days. The refund will be added to the bank account listed under your Revenue account within three working days.
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