The overpayment amounts to €436 million, with preliminary end of year tax statements available to PAYE taxpayers from tomorrow, January 15th.
Revenue also noted 27 per cent of workers paid less tax and/or USC than what was owed, totalling €458 million, while 43 per cent had a balanced position, paying the correct amount.
From tomorrow, PAYE workers will be able to view their preliminary statements on the My Account section of Revenue’s website, where they will be able to see if they owe or are owed money.
Head of Revenue’s personal division Declan Rigney said the preliminary statement will give people clarity.
“This will bring a level of visibility, assurance and certainty to those who were concerned about their end of year position, particularly in the light of some of the recent media and public commentary that suggested large amounts of tax could be owed.
“At the outset, it is very important to note that the PAYE end of year process relates to all PAYE taxpayers rather than any particular subset.
“Today’s statistics clearly show that across the entire PAYE case base, including those in receipt of TWSS and/or PUP subsidy payments, over 80 per cent have a preliminary end of year tax position that is either balanced, overpaid or underpaid by less than €200.”
Mr Rigney added that about 47 per cent of workers who qualified for one or more wage supports during 2020 are due a tax refund or have no additional liability, while 23 per cent have a liability under €500 and 15 per cent owe between €500 and €1,000.
“Revenue is very aware that underpayments could cause financial difficulties for some people and wish to reassure these taxpayers that collection will not start until January 2022, one year from now.
“Also, given the collection of the amount owed will be spread over four years, an underpayment, for example, of €1,000 will be collected in amounts of just under €5 per week,” Mr Rigney said.
To finalise your tax return, workers must complete the income tax return on the Revenue website, which is pre-populated with the necessary information. They can add any relevant tax credits they qualify for and declare any additional incomes before submitting, and will then be sent a statement of liability showing their final tax and USC amount for the year.
For those who owe money, Mr Rigney said there is no immediate requirement to pay the amount specified in their preliminary end of year statement.
Taoiseach says ‘Ireland is committed to fighting antisemitism, racism’ at Holocaust memorial
Tomi Reichental and Suzi Diamond, the two remaining Holocaust survivors in Ireland, also addressed the event which was organised by Holocaust Education Trust Ireland.
Holocaust Education Trust Ireland works with teachers, students and the wider community to educate about the Holocaust and its place in today’s society.
Mr Martin said: “Education is an important tool in deepening our understanding of the Holocaust…Ireland is committed to fighting antisemitism and racism.
“Today’s ceremony will be addressed by two Holocaust survivors, Tomi Reichental and Susie Diamond, last year’s ceremony marked the 75th anniversary of the liberation of Auschwitz and as we move further away from the horrors of the Holocaust, the value of being able to share the personal experience of Tomi and Susie is incalcuable.”
Education is an important tool in deepening our understanding of the Holocaust…Ireland is committed to fighting antisemitism and racism
— MerrionStreet.ie #StaySafe #HoldFirm (@merrionstreet) January 24, 2021
Man arrested after garda vehicle is struck in Donegal car chase
The incident took place near Tullyearl in Donegal town this afternoon.
A shot was discharged from a Garda firearm during this incident and as a result, GSOC have been notified of the incident.
Gardaí signalled for a jeep, that appeared to be driving in a dangerous manner, to pull over just after 1.30pm at Drumlonagher in Donegal town. This vehicle failed to stop and proceeded to drive away from gardaí.
A managed containment pursuit was carried out and during this, one garda vehicle was struck.
The pursuit concluded near the Tullyearl roundabout when the jeep went off the road.
The driver of the vehicle, a man in his 30s, fled from gardaí when it had come to a stop. The four passengers who had been in the jeep remained at the side of the road. The driver was located in a nearby field a short time later.
One Garda was taken to Letterkenny University Hospital for treatment of injuries following this incident. These injuries are non-life threatening. The driver of the jeep, and four passengers were uninjured.
The four passengers, two women and two men, were arrested at the location and taken to Ballyshannon Garda Station. They have all since been released.
The driver of the jeep has been charged and will now appear before Donegal Town District Court tomorrow morning.
Temperature to drop to -5 degrees tonight
A Status Yellow Low Temperature alert comes into effect at 7pm this evening, and is to remain in place until 10am tomorrow.
Continued care is advised around Clifden and on the N59 between there and Maam Cross in County Galway after snowfall last night.
Icy conditions are still affecting Waterford city, Tramore and surrounding areas of the county, as well as some routes in nearby South Kilkenny.
AA Roadwatch Deputy Editor, Lauren Beehan, says some areas should be avoided.
Ms Beehan said: “Areas of higher ground in Kerry and Wicklow have been especially affected and motorists are advised to avoid the Conor Pass and the Ballaghisheen Pass in Kerry as well as the Sally Gap and the Wicklow Gap and all higher ground in the county if possible.”
Click here for the latest weather updates.