For full article visit: https://www.independent.ie/business/personal-finance/tax/are-you-due-a-refund-nearly-500000-workers-paid-600-too-much-to-the-taxman-41853752.html
Finance Minister Paschal Donohoe said that Revenue pays out millions to workers every year who have overpaid their taxes.
Are you due a refund? Nearly 500,000 workers paid €600 too much to the taxman
Check your PAYE bill – you could be set for share of €620m overpaid to Revenue
Households have been urged to check the income tax they are paying after it emerged that hundreds of thousands of people are overpaying on their PAYE income every year.
The call comes after it emerged that close to half a million people overpaid a total of €300m in income tax last year alone.
Over the last three years a combined €620m has been overpaid in income taxes by PAYE workers, according to Revenue.
This is despite household budgets being under severe strain from the cost-of-living crisis.
The figures indicate that a typical taxpayer may be missing out on around €1,000 in tax refunds from Revenue.
Figures obtained by Sinn Féin finance spokesman Pearse Doherty show that around 300,000 taxpayers overpaid income tax in 2019.
Revenue puts the overpayment by these workers that year at €170m.
In 2020 some 270,000 are estimated to have overpaid a total of €150m in income taxes.
And last year €300m was overpaid by 450,000 taxpayers.
There are around 2.5 million taxpayers in the State.
Revenue has urged PAYE taxpayers to file a tax return to ensure they are getting all the tax credits and allowances they are entitled to get each year.
Tax experts said many taxpayers are entitled to additional tax credits or reliefs that are not applied automatically during the year. This could include the home carer tax credit, or year of marriage tax relief.
Many taxpayers are entitled to additional tax credits or reliefs that are not applied automatically during the year. This could include the home carer tax credit or year-of-marriage tax relief.
Workers who incur medical or certain dental expenses during the year will likely be entitled to a refund of 20pc of the cost.
The E-worker relief for those who work from home can be claimed on heating, electricity and internet bills. This can only be claimed if your employer doesn’t pay the €3.20 per day worked from home tax-free allowance to the employee.
Emergency tax is common among young workers. It occurs where a job isn’t registered with Revenue or an employee does not provide their PPS number to their employer. In such cases, the employee pays tax at a higher rate than necessary.
Some may be missing out on relief after getting married.
In the year you get married, both you and your spouse will continue to be treated as single people for tax purposes.
However, if the tax you pay as two single people is greater than the tax payable if you were taxed as a married couple, you can claim the difference as a tax refund.
If you would like to find out if you are due a Tax Refund, just contact us here at LetsGetYourTaxBack.ie or complete the online Application Form.
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