"Prepare Your Year-End Tax Settlement Early"... National Tax Service Launches Year-End Tax Preview Service

On the 15th, the National Tax Service (NTS) will launch the 'Year-end Tax Settlement Preview' service for employees curious about their year-end tax settlement results early next year.

In the Year-end Tax Settlement Preview, users can calculate the estimated tax amount for next year's year-end tax settlement based on last year's results and credit card usage from January to September of this year.

It also allows users to preview changes in personal deductions due to variations in this year's salary and dependent deductions, as well as increases or decreases in credit card and medical expense deductions.

Additionally, the service provides important notes to prevent excessive deductions by mistake on various deductions and exemptions, and offers information to maximize tax-saving benefits by adjusting savings and spending plans.

Furthermore, the NTS will provide 'customized guidance' for 430,000 employees who have difficulty with year-end tax settlement by analyzing individual year-end tax settlement histories and internal and external data. These employees are likely to meet deduction requirements but have never claimed deductions before. The guidance covers seven major deduction and exemption items, including mortgage loans and housing subscription savings. The number of people receiving guidance on the highly inquired monthly rent tax credit has been increased compared to last year, and guidance on donation deductions has been added.

Starting on the 20th, messages sent via KakaoTalk will allow recipients to easily check deduction requirements and necessary documentation for each eligible person on the 'NTS website,' and this information can also be confirmed through the 'Year-end Tax Settlement Preview.' If KakaoTalk delivery is not possible, additional guidance will be sent via Naver electronic documents.

An NTS official stated, "Going forward, the NTS will do its best to resolve the year-end tax settlement questions of 20 million employees in advance, ensuring a simpler and more accurate year-end tax settlement process."

This content was produced with the assistance of AI translation services.