Revenue issued TWSS reconciliation reminder letters today to approximately 27,000 employers and to their tax agents. These cohort of employers have a material TWSS liability based on subsidy paid reported information. The letter reminds employers to review their reconciliation balance in ROS and to complete the reconciliation process. This must be done before the 30 June 2021 otherwise the balance shown will be treated as final. It is important for employers to check the reconciliation for all balances including those with nil TWSS balances.

At a recent TALC meeting, Revenue confirmed that approximately 18,500 employers have now accepted their reconciliation result. Revenue provided a copy of the reconciliation reminder letter. Over 66,000 employers received the reconciliation details to their ROS accounts on 22 March.

In its press release Revenue noted that 41 percent of employers are reconciled with no balance due. However, it is still very important for employers to carefully review the reconciliation details with a nil balance due on ROS to ensure all information is correct and reflects TWSS payments made to employees. Members have shared experiences of errors in the reconciliation information reflecting invalid TWSS payments to employees. Therefore, to avoid upset and issues in January 2022 when employee tax credits will be restricted to collect tax on TWSS payments, it is important for all reconciliations, including nil balances to be checked. See the Revenue webpage for full details on how to comply with the TWSS reconciliation process.