{"id":12231,"date":"2022-12-19T13:48:43","date_gmt":"2022-12-19T11:48:43","guid":{"rendered":"https:\/\/seoblog.taxback.com\/?p=12231"},"modified":"2024-12-20T21:09:07","modified_gmt":"2024-12-20T19:09:07","slug":"how-to-reduce-tax-bill-from-revenue-underpayment-income-tax-ireland","status":"publish","type":"post","link":"https:\/\/www.taxback.com\/blog\/how-to-reduce-tax-bill-from-revenue-underpayment-income-tax-ireland\/","title":{"rendered":"Received a tax bill from Revenue? Here\u2019s how you can try to offset it!"},"content":{"rendered":"

That\u2019s because Revenue is owed a significant amount as many workers received pandemic supports and these payments were taxable.<\/p>\n

Did you receive one of these letters? You\u2019re not alone! In fact, it is estimated that nearly 300,000 taxpayers received one!<\/p>\n

But FEAR NOT<\/em><\/strong>! You may be able to offset your tax bill in order to pay less money to the tax man.<\/p>\n

In this blog post, we\u2019ll outline why you have been taxed, and how you can reduce your tax bill.<\/p>\n

Why have I received a tax bill?<\/h2>\n

If you received this tax bill, you are not alone.<\/p>\n

Thousands of Irish people have received these letters, mainly because Revenue believes they have a tax bill to pay.<\/p>\n

You may have a tax liability if you received one of the COVID support payments.<\/p>\n

In fact, it is thought that Revenue is seeking hundreds of millions in owed taxes from citizens who received the Pandemic Unemployment Payment (PUP<\/strong>) or the Temporary Wage Subsidy Scheme (TWSS<\/strong>) during Covid-19 lockdowns.<\/p>\n

The average Irish tax refund is \u20ac1,880<\/strong><\/p>\r\n

GET YOURS NOW<\/a><\/p><\/strong><\/p>\n

 <\/p>\n

Why do I owe Revenue money?<\/h2>\n

The reason that you have been requested to file a tax return is that for the pandemic supports that you received, you were not taxed on them.<\/p>\n

When you earn income, these taxes are usually automatically deducted from your earnings, so the majority of workers will not owe Revenue anything.<\/p>\n

However, because these were not deducted, Revenue has decided that now is the time to claim it back.<\/p>\n

How much do I owe Revenue?<\/h2>\n

Well, that depends entirely on your own personal situation.<\/p>\n

Some taxpayers have been hit with bills of nearly \u20ac3,000, while some will owe less than that.<\/p>\n

Factors that influence how much you owe include how much you received and for how long you received it.<\/p>\n

If you do find that you owe Revenue a lot of money, don\u2019t panic, they are not expecting an instant return of this money.<\/p>\n

How long do I have to pay the money back?<\/h2>\n

Revenue fully understands that many taxpayers may find it difficult to repay their tax bill all at once.<\/p>\n

That\u2019s why there are a variety of options for you if you find yourself in this situation.<\/p>\n

Of course, if you want to get the tax bill off your shoulders, you can pay it instantly!<\/p>\n

They will reduce the credits over four years equally for all of the amount you owe.<\/p>\n

However, if you are due any refund in future years, before you collect the full liability by reducing the credits, you will offset that refund.<\/p>\n

\"how<\/p>\n

Can I reduce my tax liability?<\/h2>\n

It is possible to minimise or possibly even eliminate your tax liability.<\/p>\n

By using all of the tax reliefs that are applicable to you, you may even be entitled to a tax refund.<\/p>\n

Did you know that tax relief is available on many common costs such as medical expenses, tuition fees, flat rate expenses, and work from home expenses?<\/p>\n

Check out the top 5 tax reliefs that many Irish taxpayers forget to claim here<\/a>!<\/p>\n

Better yet, you can go back as far as four years to claim these reliefs.<\/p>\n

Taxback can help you to claim your maximum Irish tax refund.<\/h3>\n

When we file your Irish tax return<\/a>, we\u2019ll apply for the MAXIMUM legal tax refund that is applicable to you!<\/p>\n

The average Irish tax refund is \u20ac1,880<\/strong><\/p>\r\n

GET YOURS NOW<\/a><\/p><\/strong><\/p>\n

 <\/p>\n

What will Taxback do for me?<\/h2>\n

When you use Taxback, you will be 100% tax compliant with Irish Revenue.<\/p>\n

That alone takes a major weight off many Irish taxpayers, particularly those who owe money to Revenue.<\/p>\n

The best part of our service, however, is that we will ensure you receive your MAXIMUM <\/em><\/strong>legal tax refund – our average tax refund for our customers in Ireland is \u20ac1,880.<\/p>\n

We\u2019ll analyse your personal situation and ensure you are claiming all of the tax reliefs and credits you can.<\/p>\n

So, if you owe the taxman money, we will do our very best to offset what you owe.<\/p>\n

Get started today!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"In the later months of 2022, many Irish taxpayers received letters from Revenue asking them to complete tax returns for the years 2019 to 2021.\n","protected":false},"author":371,"featured_media":12237,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"yes","_lmt_disable":"no","footnotes":""},"categories":[368,361],"tags":[],"class_list":{"0":"post-12231","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tax-tips-ireland","8":"category-tax-tips"},"acf":[],"yoast_head":"\nReceived a tax bill from Revenue? Here\u2019s how to reduce it!<\/title>\n<meta name=\"description\" content=\"Many Irish taxpayers received letters from Revenue asking them to complete tax returns for the years 2019 to 2021. 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You may be able to offset your tax bill in order to pay less money to the tax man.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.taxback.com\/blog\/how-to-reduce-tax-bill-from-revenue-underpayment-income-tax-ireland\/\" \/>\n<meta property=\"og:site_name\" content=\"Taxback Blog: Simplify Taxes, Maximise Refunds\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/taxbackcom\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-19T11:48:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-12-20T19:09:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.taxback.com\/blog\/wp-content\/uploads\/2022\/12\/Received-a-tax-bill-from-Revenue-Heres-how-you-can-try-to-offset-it.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Rory Lynskey\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Taxback\" \/>\n<meta name=\"twitter:site\" content=\"@Taxback\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Rory Lynskey\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Received a tax bill from Revenue? 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