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Tax Returns Letter

guitarzero

I got a letter for tax returns but not sure if Im reading it correctly.

It says 2019 - Overpayment - 474.00euro

2020 - Underpayment - 642.62

2021 - Overpayment - 1,630.81euro

I imagine I total 2019 and 2021 to amount how much I owe?

Any tips would be great!

Thanks

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Icemancometh

If they're overpayments, revenue owes you money.

SEPT 23 1989

my tip would be to employ the services of an accountant

HildaOgdenx

https://www.boards.ie/discussion/2058273311/tax-returns-letter

Add the overpayments together and subtract the underpayment and that will show you the amount that you are owed by revenue.

kazamo

https://www.boards.ie/discussion/comment/119919744#Comment_119919744

I wouldn’t……..it just lessens the refund you get as you have to pay him/her/they.

Allinall

https://www.boards.ie/discussion/2058273311/tax-returns-letter

Revenue owe you €1,462.19

Mayomother

In my experience ringing them directly with your query would be a good idea. Anytime I've done that I find the Revenue staff very helpful.

An underpayment means you owe them money, and overpayment means they owe you.

So from what you've written it looks like overall your are owed money by them. Typically if they have your bank details they will directly repay the outstanding amount into the bank, or if not they will send you out a cheque for the overpayment.

In case you are wondering I don't work for Revenue, but I have had a few tax overpayments in the past and this is how it has worked for me.

kazamo

https://www.boards.ie/discussion/2058273311/tax-returns-letter

Register for myAccount or ROS on Revenue.ie if you haven’t already done so. It probably refers to it in the letter. It will help you see the details the Revenue have for you for each year.
Gather up all your medical/dental expenses that weren’t covered by medical insurance and you can claim for those. It won’t be much as Revenue standard rate it and after disallowing first €100, but every bit helps.
If a PAYE worker check the tax credits your employer is allowing you versus what the Revenue is giving. Maybe your employer hasn’t updated the tax credits.

If you are a PAYE worker, those yearly fluctuations are a bit mad, unless there is a good reason such as moving jobs, unemployment etc. Please don’t post your personal circumstances, just posing the question for you to ponder. If you were in the same job for those three years, the underpayment is probably wage subsidy related but you are loaning the tax man, your money for the other years. If it was me, I would want to know why.

After all this is done, I personally would be looking at 2022 and seeing if there is another discrepancy (perhaps, again in your favour).

Mrs OBumble

Phone Revenue , and check if the letter really came from them at all.

Jim2007

https://www.boards.ie/discussion/comment/119919744#Comment_119919744

The assessments have already been finalised, what do you expect to get from dropping say 500 Euros on an accountant?

HildaOgdenx

https://www.boards.ie/discussion/comment/119919951#Comment_119919951

I was about to suggest this.

It's really handy to have the online account and they are good for answering queries in a very reasonable timeframe in my experience.

guitarzero

Thanks so much for the replies folks, really appreciate that. I had been on covid payment in 2021 and actually forgot to cancel payment after going back, 3 weeks payment, thought it may have been to do with that. This is all new to me and the websites jargon didnt help but on the backing of your replies it sounds like I might be splashing out this christmas hehe

griffin100

In my experience if they owe you money they usually send the cheque around the same time they send the notification letter so if it's legit you'll get paid very shortly.

Jim_Hodge

The notification from revenue should state what is being done to reimburse the net overpayment.

Karppi

In my experience , Revenue is about the only part of the state that knows what it’s doing. Call them, they’ll get you sorted

dxhound2005

They kept me waiting 15 minutes when I phoned them yesterday. Playing messages to try to get me go online instead. But they did update every 3 minutes with the expected waiting time, and the issue I had was resolved to my satisfaction. I do not have experience of all the other parts of the state, but I expect that they would mostly be just as good. I have had much worse service from various private organisations.

[Deleted User]

https://www.boards.ie/discussion/comment/119919951#Comment_119919951

Why would you disallow the first hundred euro of allowable health expenses?

Greyfox

I got a letter from them to fill in my details for the last 3 years by 18/11/22. I kept getting an error message when I tried so didn't bother as I also have no health expenses to claim.. well the one dentist visit I can't find the receipt anyway.

Unfortunately for me my total for the 3 years is an underpayment of €324. The letter says after 18/11 they will proceed anyway with the information they have

The question I have is will I just allow them to take the money back themselves or will I call them, would calling them make any difference?

spurious

They will more than likely allow for it in your tax credits rather than whipping 324 out of your account.