Today, we will learn about how to issue a withholding tax receipt for earned income. A withholding tax receipt is a system in which workers receive the remaining amount from their withheld income after paying taxes in advance. Let’s find out how to issue it through Hometax and its importance.
It can be easily issued through Hometax and Sontax. First, verify your identity, log in to the site, and go to the MY Hometax menu. You can easily issue an earned income withholding tax receipt by clicking Simplified Year-End Tax Settlement/Payment Statement and checking the payment statement.
Earned income withholding receipt
This is a system in which workers and freelancers pay taxes in advance to the National Tax Service, and the company pays taxes in advance in the process of paying withholding income to workers.
Withholding tax receipt
Withholding tax refers to the fact that the income earner does not pay his/her own tax directly, but the withholding agent (including the state, corporation, self-employed person, and non-business person) who pays the income subject to withholding tax collects the tax in advance from the income earner and remits it to the state (National Tax Service). This refers to a system that
withholding tax obligor
A withholding agent is an individual or corporation that receives income within the country and is the entity that withholds tax on the relevant income or income amount.
The party receiving the interest, employment, retirement, or other income is the withholding agent.
How to issue an earned income withholding tax receipt
Both workers and freelancers can issue earned income withholding tax receipts. Issuance methods are available through PC and mobile.
How to issue a PC
Home Tax Login
Click MY Hometax menu
Simplified year-end tax settlement/Click on payment statement
Check payment statement
Mobile issuance method
Download the National Tax Service Sontax app
Sontax Login
Click ‘Simplified Year-End Tax Settlement/Payment Statement’
View earned income payment statement
👇 Go to National Tax Service Hometax Sontax (Android)
👇Go to National Tax Service Hometax Sontax (iPhone)
View earned income withholding tax receipt
You can check the withholding tax receipt on the Hometax website using the same method as the method of issuance.
Workers and freelancers can receive earned income withholding receipts through Hometax and accurately report comprehensive income tax and make year-end tax settlements. Issuance is easily possible through PC and mobile, so if you need it, get it issued right away.
Earned income withholding receipt can be issued at Hometax
Documents required for year-end tax settlement for those who quit mid-term
Check the two methods of issuing withholding tax receipts
Special withholding deadline for earned income
Earned income earned from January to November must be paid by December 31.
December’s earned income must be paid by the end of February next year.
income tax or corporate tax
Withholding tax on earned income is classified as either income tax or corporate tax. Applicable subjects, eligible income, and tax items to be paid vary, and detailed information on each tax is provided.
finish
Today, we learned about how to issue an earned income withholding tax receipt. If you check your withholding tax receipt during the comprehensive income tax period, you can enter the correct income amount when filling out your comprehensive income tax return. If you have a large amount of tax withheld, you may want to consider hiring a tax preparer.
Good article to read together
2024 Youth Monthly Rent Support Application Method, Period, Conditions, Summary
Application, conditions, and period for 2024 work incentives (regular application, semi-annual application)
Summary of annual car tax discounts for 2024 (application time, discount rate)
How to apply for 2024 unemployment benefits and summary (conditions, benefit period, calculator, amount)
How to apply for 2024 unemployment benefits and summary (conditions, benefit period, calculator, amount)
2024 Youth Leap Account conditions and application method
2024 year-end tax settlement preview and mock calculation