You Must Apply for the First Half of This Year's Earned Income Tax Credit by the 19th
450,000 Elderly and Severely Disabled Individuals Who Provided Prior Consent Are Automatically Registered
The National Tax Service (NTS) announced on the 3rd that it will accept applications for the Earned Income Tax Credit (EITC) for earned income in the first half of 2024 until the 19th, to encourage work among low-income households and actively support economic independence.
The target group consists of 1.41 million households with earned income only in the first half of 2024. Since the 2nd of this month, the NTS has sent out EITC semi-annual application notices via mobile and mail.
The application period is until the 19th, and the approved credits will be paid by the end of December this year after reviewing eligibility. However, if there is earned income along with business or religious income in 2024, applications must be submitted during the regular application period next year (May 1?31). EITC applications can be made through Hometax (PC or mobile) and automated phone services without visiting the tax office.
The NTS has introduced and operated an 'automatic application system' since last year to alleviate the inconvenience for elderly persons aged 60 and over and persons with severe disabilities (including household members) who apply for the credit annually and to prevent missed applications. Of those who consented in advance to the semi-annual application by March this year, 450,000 people will have their applications completed without additional procedures, and 210,000 new candidates for automatic application consent will be guided to provide prior consent.
Hot Picks Today
"Samsung and Hynix Were Once for the Underachievers"... Hyundai Motor Employee's Lament
- "Plunged During the War, Now Surging Again"... The Real Reason Behind the 6% One-Day Silver Market Rally [Weekend Money]
- After Losing Her Only Daughter, a Mother in China Gave Birth to Twins at 60... Reinventing Life at 76
- KOSPI Drops Over 3% Intraday, Falls Below 7,300 Mark
- "That? It's Already Stashed" Nightlife Scene Crosses the Line [ChwiYak Nation] ③
An NTS official stated, "The application amounts indicated in the notices are calculated based on data held by the NTS and may vary depending on the actual household, income, and asset status. Also, NTS employees never request any money or financial information (such as account passwords) related to the EITC application, so we urge caution against electronic financial crimes such as phone calls or text messages impersonating EITC applications."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
