One year after the introduction of the Temporary Wage Subsidy Scheme (TWSS), the Revenue reconciliation process is finally underway. Revenue have now compared the total subsidy amounts paid to employees, against the subsidy amounts paid to the employer. This has allowed Revenue to determine the amount of TWSS owed back to Revenue from employers.
All employers who availed of the TWSS will receive a Statement of Account in their ROS inbox on Monday 22nd March 2021. Employers will have until the end of June to review the detailed information and accept the reconciliation amounts. Once you have accepted the reconciliation calculation, you will either be paid any additional amount due to you by Revenue or be required to repay any amount that you owe to Revenue.
Join Thesaurus Software for a free webinar on Wednesday 24th March at 10.30 am. In this webinar, we will be joined by a guest speaker from Revenue who will discuss what you need to know about the TWSS reconciliation process. Plus, we will demonstrate how to cross-check reconciliation amounts with the payroll software and how payroll automation can help your business during COVID-19.
*** High demand for this webinar. Book your place now to avoid disappointment. ***
If you are unable to attend the webinar at the specified time, simply register and we will send you the recording afterwards.