Last time, I made two posts related to the end-of-year settlement of the deduction for women and children. We have dealt in depth with the meaning of women’s and children’s deductions, the requirements for women’s deductions, and the contents of claims for correction of women’s deductions.
I always thought it would be good to get accurate information about the tax refund part and what kind of subject you are eligible for when you apply for the year-end tax settlement because you can’t get a refund because you don’t know.
Conditions for deduction for women and children, how to make year-end tax settlement? (Part 1) 중도퇴사자 연말정산
I think there are many people who, like me, are late for the year-end tax settlement. Today’s post I’m going to introduce you to [Women’s Deduction]. When I was doing my year-end tax settlement, I was worried about what would happen if I made a mistake..
Conditions for deduction for women and children, how to make year-end tax settlement? (Part 2) – Request for correction 좋은뉴스
For those of you who feel that year-end tax settlement is vaguely difficult, I have personally experienced and collected information and posted an article related to the deduction of women and children. The meaning of the women’s child deduction and whether the person falls under the eligibility conditions, the kind..
yum-reviewzok.tistory.com
Today, we prepared a year-end settlement for those who left midway.
As for the 2019 attribution year-end tax settlement, the simplified service will open on January 15, 2020 as shown below, and the deadline for filing and payment will be until March 10, 2020 (Tuesday). Let’s take the time to get the right tax refund through the correct year-end tax settlement and increase your understanding of it.
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Year-end tax settlement for mid-term retirees is not difficult at all! Report it correctly, and get a refund correctly!
As I was also one of those who left mid-term, I used to look for various information while preparing for the 2019 year-end tax settlement. In any case, it seems to have been carefully considered because there was no need to receive a refund due to an incorrect report and return it again. It’s not as difficult as you think, so maybe you can easily access it too, so don’t worry and read carefully.
Q. If I resigned in 2019 and changed jobs in the same year, am I eligible for year-end tax settlement?
Case 1.
Ms. Taehee Kim got a job two years ago and stayed at job A until August 2019, then moved to job B in November 2019. If she continued to work at the old job A, she only had to prepare and submit the documents for the year-end settlement, but now she has moved to the B job and doesn’t know how to make the year-end settlement.
If you look at Case 1 below, you can see that Kim Tae-hee got a job two years ago and worked at Work A until September 2019, then moved to Work B in November of the same year. If you leave the company in the same year and change your job again, you are eligible for year-end tax settlement.
In this case, you can prepare and submit the year-end tax settlement data from the new job B, as well as the [earned income withholding tax receipt] and year-end settlement data received from the former employee at workplace A, together with the data for year-end settlement.
Therefore, if you change your job in the year of your retirement without the hassle of contacting workplace A again, it is recommended that you receive a [earned income withholding tax receipt] from workplace A before leaving the company.
Q. Do I have to contact my previous employer to get a receipt for withholding income from earned income?
That’s not it. There are two ways. (1) You can request it from your previous employer, and (2) download it from Hometax. Probably the fastest way is to ask your previous employer and get it. However, it may not be so easy to contact your former employer and ask for documents after leaving the company.
Therefore, as mentioned above, even if you are not preparing for a job change immediately when you resign, it is recommended that you obtain a [earned income withholding tax receipt] in advance and leave the company.
Q. What if I want to get a receipt for withholding income from earned income from Hometax?
You can get the issuance from Hometax. However, during the year-end tax settlement reporting period, the payment statement for the attributable year, that is, the wage and salary withholding tax receipt, cannot be issued from Hometax. The period for receiving the issuance is as of 2019, and after the previous company electronically reported the payment statement for the employee’s salary in March 2020, the following year, the statement of the details can be downloaded from Hometax.
Therefore, if you want to file a report within the year-end tax settlement period, the only way is to contact your previous employer and request it. How to get an issuance from Hometax is as follows.
(1) Connect to Hometax and complete the authentication certificate login.
National Tax Service Home Tax
www.hometax.go.kr
(2) In the Home Tax menu, click the [My Home Tax] button at the top above the Home Tax log mark. (If you cannot log in with the official certificate, a warning message prompting you to log in appears. You can log in in advance.)
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(3) If you click [Submission details such as payment statement] on the screen, the details of submission of payment statement are displayed. The attribution year can only be downloaded up to the payment statement for 2018 before March 2020. That is, the withholding tax receipt for 2019 will be inquired after March 15, 2020, when the year-end tax settlement for 2019 is completed.
source. home tax
If you re-employed in the year you left and received a withholding tax receipt from your previous employer, you can file year-end tax settlement data together with the [Withholding Withholding Receipt] and submit it to your current employer for year-end tax settlement.
If you are looking for a job without re-employment after leaving the company, you are not eligible for year-end tax settlement. In most cases, at the time of resignation, the company simply applies only the basic deduction when paying earned income and pays the final salary after year-end settlement. Therefore, insurance premiums, medical expenses, credit cards, and additional deductibles that have not been deducted must be reported individually during the May comprehensive income tax return period.
Of course, even when filing a global income tax return, you must submit the [withholding tax receipt] issued by your previous employer. Therefore, you can either receive it when you leave the company in advance, or you can check the [Withholding Tax Receipt] at Hometax in March of the year following the year of year-end tax settlement, so you can download it from Hometax at that time.
Q. What should I do if I have not been able to make the year-end tax settlement within the period?
Those who have not been able to make year-end tax settlement within the period can proceed with a global income tax return in May. If you leave the company in 2019 and join the company in 2020 and have not received the year-end tax settlement for 2019, you can deduct additional deductions through the final income tax return in May 2020. And for the year-end settlement of the new company that joined in 2020, you can proceed with the existing procedure in 2021.
Also, if the year-end tax settlement is completed within the period, but there are additional deductions, you can revise and proceed with the global income tax return in May.
Q. How do I file global income tax in May?
You can file a global income tax return at Hometax.
(1) Connect to Hometax, log in with the official certificate, and then move the mouse to the [Report/Payment] menu.
(2) If you move the mouse, a sub-menu is exposed as shown below. Click [Tax Report]-[Global Income Tax] in the menu.
source. home tax
(3) You can additionally file a global income tax return by clicking the [Create regular return] button on the wage and salary income tax return.
source. home tax
Q. If I file a global income tax return in May, when will I receive a tax refund?
After filing the global income tax in May, the tax refund can be received around July of the relevant year. You can think of it as a process to receive a refund in July 2020 after filing a global income tax return in May 2020.
Exceptions
There are cases where year-end tax settlement is not necessary. When you leave your previous job, you can check the determined tax amount in the [Withholding Collection Receipt]. If the determined tax amount is displayed as 0 on the screen below, there is no additional tax refund, so you do not need to file a final tax return. Because it means that you have already received your tax refund.
If it is – (minus) and the amount is indicated, then there is a tax amount to be refunded.
Earned Income Withholding Receipt
Precautions
I think a lot of people can make a mistake here. This means that when you do your year-end tax settlement, you only need to check the month in which you worked. To simplify the year-end tax settlement, when you log in from Hometax, the entire month of the devolving year is automatically checked, so please check it carefully so that you do not receive a wrong tax refund.
source. home tax
Case 2.
Kim Tae-hee worked at Work A from January to May 2019 and left the company. And she said that that year she moved to job B, where she has been working continuously from September 2019 to February 2020.
If we look at case 2, he worked at job A from January to May 2019, and left the company on the way. And in September of that year, I got a job at another office worker B, and I have been working continuously. In this case, you need to check [January to May] and clear the check for 3 months of [June to August] when you did not work.
And it checks all the 4 months worth of [September to December] when you were re-employed at work B. In addition, if you submit the [withholding tax receipt] you received at Work A along with the year-end tax settlement documents that looked up the relevant simplified data to Work B, the year-end tax settlement is completed.
In summary, year-end tax settlement is deductible only for the period in which work was provided, so the period during which no work was not included is not included! There should be no excessive deductions due to incorrect calculations.
Year-end tax settlement for those who leave midway is difficult if you think about it, but if you do it yourself, you can handle it easily.
I was in a situation where I was also a mid-term retiree, so I
A year-end tax settlement seems to have ended in a hustle and bustle. However, it seems that there were no major problems because it was reported safely and well.
I hope you prepare well in advance and respond to your tax refund without any problems!