Year-End Tax Settlement Preview: Importance and Usage

What is Year-End Tax Settlement?

Year-end tax settlement is the process of settling taxes conducted annually between January and February. During this process, employees organize their income and tax amounts, and calculate their tax refund or additional tax payment through tax deductions. Year-end tax settlement is a crucial procedure for salaried workers, and tax refunds can significantly benefit their household finances.

Importance of Year-End Tax Settlement Preview

The year-end tax settlement preview is a useful tool for preparing for tax settlement in advance. It allows you to calculate your estimated tax amount and prepare the necessary documents. In particular, it provides opportunities to maximize tax refunds by checking items eligible for tax deductions in advance. Using the year-end tax settlement preview reduces tax-related anxieties and allows for more systematic preparation.

How to Use the Year-End Tax Settlement Preview

To use the year-end tax settlement preview, you need to access the National Tax Service Hometax website. After logging into Hometax, select the "Year-end Tax Settlement Preview" menu. From there, you will proceed to the stage where you can enter personal information and calculate your estimated tax amount.

The convenient year-end tax settlement preview service consists of the following three steps:

Credit Card Input: Enter your credit card information for income tax calculation.
Estimated Year-End Tax Calculation: Estimates your year-end tax based on the information entered.
Tax Deduction and Refund Tips: Provides useful tips on tax deductions and refunds.

Go to the National Tax Service Hometax Year-End Tax Settlement Simplification

Go to Comprehensive Year-End Tax Settlement Information

Year-End Tax Settlement Simplification Service

The year-end tax settlement simplification service helps make tax settlement easier. This service automatically collects necessary documents and organizes items eligible for tax deductions. This allows workers to reduce complicated paperwork and conduct year-end tax settlements more conveniently.

Deductible Items Related to Year-End Tax Settlement

There are various items that can be deducted during year-end tax settlement. Major examples include medical expenses, education expenses, donations, and housing funds. Since each item has different deduction limits, it is important to check and prepare in advance. The year-end tax settlement simplification service also makes it easy to check information on deductible items.

Frequently Asked Questions (FAQ)

When should I start the year-end tax settlement preview?
You can usually start the year-end tax settlement preview from early January. Preparing in advance is more advantageous.
What documents are needed to receive tax deductions?
The necessary documents vary depending on the deduction item, so it is best to check and prepare in advance.
Can the estimated tax amount in the year-end tax settlement preview be inaccurate?
Yes, the estimated tax amount can vary depending on the entered information, so accurate information entry is important.

Conclusion and Additional Information

Year-end tax settlement is an important annual procedure. Thoroughly prepare using the preview service, and maximize tax deductions to receive a tax refund. Additional information can be found by visiting the National Tax Service Hometax website.

Check the link below for more information on year-end tax settlement: