REVENUE UPDATE ON EWSS ‘SWEEPBACK’ PAYMENTS & TAXATION OF TWSS AND PUP PAYMENTS
Revenue has provided updates in relation to the following:
- the processing of the first phase of EWSS sweepback payments in respect of July and August 2020 – the means for eligible employers to claim a subsidy on behalf of eligible employees for July & August through Revenue’s Online Service, ROS, has been available since 15 September 2020. Revenue has already processed the first sweepback of EWSS payments
- additional info in relation to payment of any tax due arising from amounts received by employees under the Temporary Wage Subsidy Scheme (TWSS) and Pandemic Unemployment Payment (PUP) – TWSS and PUP payments were not taxed in real-time and instead are liable to income tax and USC at the end of the year (2020)
FOR GUIDANCE ON THE JULY/AUGUST SWEEPBACK CLICK HERE.
Employees can update their personal record, declare any additional income and claim additional tax credits due, such as qualifying health expenses, via myAccount – click here to access myAccount.