Irish Independent: TWSS tax bills will be surprise to four in 10

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Large numbers of workers who were put on the first wage subsidy scheme are unaware they are facing a tax bill, a ­survey shows.

Almost four in 10 workers do not realise that they may be facing a tax bill after availing of the Temporary Wage Subsidy Scheme (TWSS) payments during the pandemic, according to a survey by Taxback.com. Payments on the TWSS were not taxed at source, unlike its successor the Employment Wage ­Subsidy Scheme.

The tax practitioners found 95pc of workers who were on the TWSS face paying outstanding tax bills themselves, rather than their employer paying it. Half have yet to check if they have an outstanding tax liability.

Consumer tax manager with Taxback.com Marian Ryan said the findings show that there is still a scarcity of information and awareness among workers who have been placed on the scheme by employers over the last 12 months on their resulting tax position.

https://www.independent.ie/business/personal-finance/twss-tax-bills-will-be-surprise-to-four-in-10-40508499.html