2 February 2023
By Roger L. Kennedy
roger@TheCork.ie
Hundreds of thousands of PAYE workers entitled to tax refund after overpayment of tax
Fianna Fáil TD Aindrias Moynihan has urged PAYE taxpayers to file an income tax return as they may be due a refund for overpaid taxes.
The Cork North West TD has been informed by the Minister for Finance Michael McGrath in the Dáil that hundreds of thousands of PAYE workers, who have yet to file a tax return, are due a refund.
To date, the Revenue Commissioners has refunded €554 million to PAYE taxpayers in respect of 2021 and €193 million in respect of 2022.
The minister responding to Deputy Moynihan in the Dail chamber this week said that of those PAYE taxpayers who have yet to file a return for 2022 some 563,300 workers have potentially overpaid tax up to €400 million euro.
For 2021 some 325,000 workers have potentially overpaid by €182 million euro.
It means some €580 million worth of overpaid taxes remains to be claimed back by workers.
“This year more than ever people are under phenomenal pressure to pay bills,” Deputy Moynihan said.
“The message has to be out there loud and clear that hundreds of thousands of people have overpaid their taxes and that people should be claiming back their money.
“I would recommend anyone who has not already done so to file a return.”
The renters tax credit, announced by the Government in October, is one of the reliefs that can be claimed on an income tax return for the tax year 2022.
Deputy Moynihan obtained the figures in response to a parliamentary question to the Minister for Finance seeking the Department’s estimates of the amount the Revenue received in overpaid PAYE taxes in 2021 and 2022 and what measures were in place to make individuals aware of any overpayments made.
He said most tax returns filed to date were received through Revenue’s online channels with any refunds due paid within three to five working days.
240411 L
