Pay and File 2011
The income tax deadline is just around the corner. Income tax returns for 2010 are due for filing by 31 October 2011. For those filing and paying through Revenue’s Online Service (ROS) an extended deadline of 16 November applies. The deadline also marks the date to pay any balance of income tax due for 2010, together with preliminary tax for 2011. This year is likely to be particularly challenging due to tax increases in recent Budgets and reduction in cash-flow so it is important to prepare now for the deadline. Our dedicated webpages highlight the important issues and tips for this year’s deadline.
DID YOU KNOW?
THE FACTS AND FIGURES ON PAY AND FILE
- Over 530,000 income tax returns were filed last year
- 79% of those returns were filed online
- 97% of preliminary income tax was collected by the due date last year
- Interest on underpaid tax accrues at a rate of 8% per annum
- The amount of interest collected by Revenue in 2010 was €57 million, a decrease of €10 million on the previous year
- You may face a surcharge of up to 10% of your tax liability if your return is late
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If you pay and file online, the deadline is extended by 16 days