"Apply for Earned Income and Child Tax Credits Before Today to Receive Up to 1 Million Won"

Earned Income and Child Tax Credits Application Deadline Today (2nd)
Applications Accepted via Phone and Hometax Website
National Tax Service Warns "Beware of Financial Scams"

Even households that missed applying for the Earned Income Tax Credit and Child Tax Credit in May can still apply by today, the 2nd, to receive the credits. Pixabay

Even households that missed applying for the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) last May can still apply by the 2nd (today) to receive the credits. Applications can be submitted through Hometax (PC or mobile) without visiting the tax office.

The National Tax Service (NTS) sent out notices encouraging households that missed the regular application period to apply by December 2nd. After this deadline, no further applications will be accepted.

The NTS will pay 100% of the credit to those who applied during the regular application period from May 1 to 31. Applicants during the late application period from June 1 to this month’s 2nd will receive 95%. Eligibility for the Earned Income Tax Credit requires that the combined spousal income last year be under 22 million KRW for single-person households, under 32 million KRW for single-earner households, and under 38 million KRW for dual-earner households. The total property value of all household members must be under 240 million KRW. Eligibility for the Child Tax Credit applies to single-earner and dual-earner households with children under 18 years old and combined spousal income under 70 million KRW. The property criteria are the same as for the Earned Income Tax Credit.

Eligibility for Earned Income Tax Credit and Child Tax Credit Application. Provided by the National Tax Service

Applications can also be made by phone at 1544-9944. If applying directly is difficult, applicants can request proxy application by calling the Credit Counseling Center at 1566-3636 or the tax office. Even if you did not receive a notice, you can apply through the Hometax website if you meet the eligibility requirements.

The NTS will review the eligibility of applicants and plans to disburse payments by the end of January next year. The average payment per household for those who applied last May was 1.06 million KRW. An NTS official cautioned, “NTS and tax office staff will never ask for money or account passwords, so please be wary of financial or text message scams impersonating credit applications.”