Workers are being warned not to lose out on a considerable tax refund pay out before it is too late.
The average amount of a tax refund available to claimants is €1,880, RSVP Live reported.
Due to the tricky process of receiving the tax refund, a step-by-step guide has been created.
How much is a tax refund?
A tax refund can vary by individual but in recent years the average amount claimed has risen by over €700.
READ MORE: Mum who tried googling symptoms receives devastating cancer diagnosis after collapsing at work
It was highlighted in July 2022 that nearly 500,000 have overpaid a total of €300 million in income tax in 2021.
How is a tax refund claimed?
Copies of expenses must be kept along with those of bills.
These won't need to be sent during the process, however, Revenue could audit your tax refunds from the last six years and these documents will be handy to have.
January and February are the optimal months to start your process of claiming back, however, you can claim money back from any of the previous four years.
Begin by signing into your myAccount on Revenue.ie.. This can be done via the Revenue website login or using your MyGOVID account.
An income tax return needs to be completed for the year up to 31 December, via your account.
Additional reliefs or credits can be added 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
It takes seven to fourteen days to hear back how much you will receive back.
The refund will be paid to the bank account listed under your Revenue account by three working days.
READ NEXT:
- Singer Susan Boyle nearly unrecognisable as she's spotted in iconic Irish hotel
- Deluded Graham Dwyer still denying murder of Elaine O'Hara after appeal fails
- Girl, 4, hospitalised after being attacked by pack of 'dangerous dogs'
- Viewers all saying same thing about 'dark and sinister' character in second episode of Kin
- Inside the Dail gym that fewer politicians than ever are using
Get news updates direct to your inbox by signing up to our daily newsletter here
