From January 2021, Revenue issued preliminary End of Year statements for all employees for the year 2020. This allowed for employees to review their income tax & USC liabilities (if any) due to receiving the TWSS (Temporary Wage Subsidy). Employers can pay some or...
TWSS was in effect from 26th March to 31st August 2020 to provide much needed support to over 66,500 employers in maintaining over 664,000 employee’s during the pandemic. Revenue has now provided TWSS reconciliation information to most employers who participated in...
With effect from 26th March 2020, employers who have been adversely affected by Covid-19, have been operating the wage subsidy scheme along with their own payroll as income supports to their employees. 2020 Tax Liability Employee’s may have a liability due of income...
Now as we move into Quarter 3, Revenue are advising employers to re-evaluate their eligibility for the TWSS still meets the criteria required.; Employers have suffered at least a 25% reduction in turnover as a result of the pandemicEmployees were included on the...
Employees that have received payments under TWSS or Pandemic Unemployment Payment are to be moved to a Week 1 basis. The Week 1 basis is also known as ‘non-cumulative basis’ or month 1 for employees paid monthly. This basically means you pay tax each day you are paid,...
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