Hundreds of thousands of workers will find out next week how much tax they owe after availing of Pandemic Unemployment Payment and Temporary Wage Subsidy Scheme in 2020.
According to The Irish Times, workers across the country will face the prospect of paying a large tax Bill’s with some paying over €1,000 back to the Revenue.
The Irish Times reports that the call for tax repayments will come as subsidies weren’t taxed at source last March.
It is believed that the tax bills could effect in the region of 600,000 people who availed of the schemes last Spring.
The news which comes on the back of yet another lockdown for the country, could see employees paying tax back for a number of years as Revenue are reportedly willing to accept repayments in increments over a four year period.
Meanwhile PAYE employees will also recieve preliminary statements on their end year tax returns on January 15th.
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