Tax Rebates & Refunds

Get back overpaid tax

June 1, 2011
Posted in Tax Rebates — Written by Jennifer

In an over-populated world, having a job is a relief. But with the job comes the problem of having to pay your taxes. Most people are law abiding citizens and usually pay their taxes on time, if not beforehand. However, sometimes one realises that the total amount of tax paid by them was much more than their actual tax liability. Does that mean that their money is lost? Not at all.

If a person has ended up paying more tax than they are supposed to, they can always apply for tax rebate from the government. A simple application is all that has to be filled out and once the records are checked and the claim verified, the government returns the money to you via a cheque or it is directly credited to your account. A tax claim agency can help you go through the entire procedure of claiming a refund from the government. They will provide you with all the necessary forms and guide as to how they have to be filled in. If you are ready to provide them with all the required information, they can ensure that you will get the entire amount you have overpaid.

Tax rebates are very common and there can many reasons as to why one may be eligible for a tax rebate.

Some of the common reasons for tax rebates:

- Overpayment of tax – This is one of the main reasons why tax payers claim a rebate. Many tax payers end up paying more due to faulty calculations or when tax has been paid or deducted in lieu of income to be received but the actual income received is less or the tax is paid on income from investments but the investments did not give enough returns, if you have unemployed for a part of the year etc.

- Working on a student job – Being a student does not directly make one eligible for a rebate. But if one is a student and still works, chances are that the job was not permanent in which case one has not worked for the whole year. This makes them eligible for a tax rebate.

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