Irish workers are being urged to not miss out on a sizable payment of nearly €2,000.
Workers in the country are entitled to a refund in tax that works out at an average of a whopping €1,880 per person.
Despite this, many people become overwhelmed by the process of claiming the tax money back. To help, here is a step-by-step guide about how to apply.
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How much is a tax refund?
While a tax refund can vary from person to person, the average amount claimed has increased by more than €700 in recent years.
In July last year, it was revealed that almost 500,000 people overpaid a staggering €300 million in income tax in 2021.
How do you claim a tax refund?
To claim a tax refund, people will need to have kept copies of expenses and bills that show proof of expenditure.
While these won't need to be sent off during the application process Revenue may audit any tax refunds from the last six years so these documents could be useful.
Although the best time to claim a refund from the year previous is during the months of January and February, you can still claim money back from any of the last four years.
To start the application process, simply log into your myAccount on Revenue.ie. This can be done on the Revenue site here.
You will need to 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 you then need 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
After all of these steps are complete you will then 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 of this.
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