Revenue rule change could see thousands miss out on tax refunds, experts warn

Tax agents will no longer receive tax refunds on behalf of clients starting next year, leading to a likely decrease in refund claims due to consumer hesitance.

Tax experts predict a significant decline in refunds as many individuals prefer not to interact directly with Revenue. Over 300,000 people miss out on refunds annually.

The Finance Minister noted that 330,000 PAYE workers overpaid taxes last year, a one-third increase from 2022. This highlights the growing issue of unclaimed refunds.

Hesitance to engage with Revenue stems from fears surrounding the tax authority, potentially dissuading individuals from claiming available tax credits like the rent and mortgage interest credits.

Read at Irish Independent