To complete a tax return, taxpayers must create or sign into their Revenue myAccount before clicking “Review your tax” and requesting a Statement of Liability which can be requested for 2019 to 2022.
TUE, 21 MAR, 2023 – 00:09
JACK WHITE
More than six out of 10 taxpayers have never claimed a tax refund on their medical expenses potentially missing out on hundreds of euro, a new survey found.
More than 1,200 people around the country were questioned, and just 37% of respondents had claimed a tax refund on medical expenses with 63% failing to do so.
When asked why people fail to claim tax refunds, 43% of respondents said it was down to a lack of awareness while 27% said they feared ending up owing money. Some 12% said the process is too time-consuming or complex, while 11% believe taxpayers are “too lazy” to carry out the process. The remaining 7% said most people are not owed a refund.
Director of Business Development at Taxback.com Marian Ryan said: “While it is understandable that many people may be reluctant to deal with the Taxman out of fear of owing Revenue yet more money, it is always better to deal with an issue than to ignore it and hope it goes away.”
Ms Ryan said the number of people who end up owing Revenue money is “very low” compared to the volume of unclaimed refunds each year.
The survey found that the number of respondents who claim their medical expenses tax relief had risen by 13% since 2021. Ms Ryan said the increase in the number of people claiming was encouraging but “still not enough”.
She said:
Why leave money behind? If you pay your taxes, then you should reap whatever rewards are available and this is a big one.
“Particularly if you have a family, the free GP Scheme ends when a child turns six, so households with children are invariably going to incur medical costs over the years. These are all eligible for tax relief.”
To complete a tax return, taxpayers must create or sign into their Revenue myAccount before clicking “Review your tax” and requesting a Statement of Liability which can be requested for 2019 to 2022.
Taxpayers must then complete an income tax return where tax credits such as the €500 Rent Tax Credit or reliefs such as the Remote Working Relief can be added. The Statement of Liability which will show an underpayment or overpayment will then be available within five working days.
Article Source – Majority of taxpayers fail to claim refund for medical expenses
– Irish examiner – Jack White