OVER 500k workers in Ireland are missing out on tax back worth hundreds of euro, the Revenue Commissioners has warned.
Around €389m in tax may have been overpaid in Ireland last year.
Refunds of over €400m have already been paid out during January, with the average refund issued at €900.
A public information campaign has been launched to raise awareness among PAYE taxpayers.
Tax credits and relief are available on a range of expenses including healthcare, renting, mortgage fee repayments and remote working costs.
Dan Oosthuizen from Revenue’s PAYE Services, said: “Our records indicate that a further €389 million may have been overpaid in 2024, and I therefore encourage all PAYE taxpayers to log on to Revenue’s myAccount service to finalise their tax position as soon as they can.
“Taxpayers are also reminded that they have four years to claim any additional refund they may be due.”
Taxpayers are urged to review and finalise their tax position for each of the years 2021, 2022 and 2023.
Mr Oosthuizen added: “If Revenue owes you money, you’ll get a refund into your bank account within days. If you owe Revenue money, we’ll work with you to find a suitable payment option.”
Revenue officials also found that 66,000 people underpaid tax in 2024.
Revenue’s National PAYE Manager, Aisling Ní Mhaoileoin, said: “The myAccount service is quick, easy and free to use and available all year round, 24 hours a day, 7 days a week.
“Additionally, we use all the information available to us to pre-populate returns.
“Therefore, for the vast majority of PAYE taxpayers, filing a return is a straightforward process they can complete themselves at a time that suits them.
“By filing an Income Tax Return, PAYE taxpayers can ensure that they are claiming all tax credits and reliefs they are entitled to, and receive any refund they are due.”
Detailed guidance, including step-by-step videos on how to submit a PAYE Income Tax Return and information on the wide range of tax credits and reliefs available, can be found on myAccount and PAYE campaign page, which is accessible at www.revenue.ie/paye.
Revenue’s myAccount service can be accessed through the Revenue website, or a verified MyGovID account, and taxpayers are reminded that Revenue never issues communications by email or text message.
REVENUE – WHAT IS PAYE?
PAYE stands for ‘Pay As You Earn’. If you are an employee, you normally pay tax through PAYE.
Every time your salary is paid, your employer deducts Income Tax, Pay Related Social Insurance (PRSI) and Universal Social Charge (USC) and pays the amount deducted to Revenue. PAYE ensures that the yearly amounts you have to pay are collected evenly on each pay day over the course of the tax year.
PAYE is also used for people who receive an occupational pension from a previous employer.
You may be entitled to tax credits and to tax reliefs and exemptions to reduce the amount of tax you pay.
