'Year-End Tax Settlement Preview' Service Launched: "Check Your Expected Refund on Hometax"

The "Year-End Tax Settlement Preview" service, which allows users to check their expected year-end tax refund-often referred to as the "13th month salary"-has been launched.

The National Tax Service announced on November 5 that it has opened the Year-End Tax Settlement Preview service for 20 million workers, and that the "Customized Guidance" service for major deduction and exemption categories will be available starting November 6.

Through the Year-End Tax Settlement Preview, users can calculate their expected tax amount for the year-end settlement using their credit and debit card spending from January to September of this year and the deduction amounts reported in the previous year-end settlement. Additionally, users can preview how changes in dependents due to marriage or childbirth, as well as changes in total salary, education expenses, and medical expenses, will affect their year-end tax amount. The service also provides various tax-saving tips and important notes to help users avoid misapplying unfamiliar deductions or exemptions and to minimize their tax burden.

The National Tax Service has selected 520,000 workers who have not previously claimed deductions during the year-end settlement but are likely to be eligible based on big data analysis, and will provide them with customized guidance as well.

This year, the number of workers eligible for guidance on the monthly rent tax credit for non-homeowners has been significantly increased to 150,000, up from 80,000 last year. By extensively analyzing both internal and external data, including year-end settlement records and student loan repayment histories, the service also provides information on seven frequently inquired deduction and exemption categories: donations, education expenses, tax reductions for small and medium-sized enterprise employees, housing savings, and monthly rent tax credits.

An official from the National Tax Service stated, "If you have any questions related to the year-end tax settlement, you can receive more detailed guidance from the National Tax Service call center," adding, "The National Tax Service will continue to provide various reporting support services to ensure a smooth year-end tax settlement process for workers."