2026-09-02 · YN 상세페이지

Year-End Tax Settlement Refund: Here’s How You Can Get More!

Year-end tax settlement is a topic of interest for many people every year. Knowing how to maximize your refund can help reduce your tax burden. In this post, we will explore in detail how to receive a larger year-end tax settlement refund.

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Preparing for the year-end tax settlement is half the battle.

Basic Understanding of Year-End Tax Settlement

Year-end tax settlement is the process of comparing the taxes paid throughout the year with the actual taxes owed, resulting in either a refund of the difference or an additional payment. It primarily includes income tax and resident tax, which are used to calculate the taxable income and settle the tax. Year-end tax settlement usually takes place in January, and it's essential to accurately understand your income and tax deductions.

Difference Between Income Deduction and Tax Credit

Income deduction lowers your taxable income, mainly through personal exemptions, basic deductions, and additional deductions. In contrast, tax credits are directly deducted from the calculated tax amount, including medical expenses, education expenses, and donations. Effectively utilizing both types of deductions can significantly increase your refund amount.

Proper Data Collection and Organization

It’s important to prepare the necessary documents in advance when preparing for year-end tax settlement. Utilizing the year-end tax settlement simplification service allows for easy collection of many documents. This service is provided on the National Tax Service website, where you can check and download various certificates related to your income. Additionally, it’s advisable to keep your receipts for medical expenses and education expenses well organized.

Analyzing Your Tax Situation

To maximize your refund, you need to accurately analyze your tax situation. Consider your annual income, family composition, other sources of income, and identify the deductions that work in your favor. Especially if there are family members with no income, you can receive a larger tax refund through personal exemptions. Therefore, setting an appropriate strategy based on your individual situation is necessary.

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Getting Help from Professionals

Seeking help from professionals like tax accountants or financial advisors is also a good approach. Especially in cases with complex tax structures, professional advice can be extremely helpful. Moreover, tax professionals are well-versed in the latest tax laws, which reduces the chances of missing deductions and maximizes your refund amount.

Properly Utilizing Donations

Donations are a great example of tax credits. If you donate regularly, you can receive tax credits for your donations, which greatly contributes to increasing your refund amount. However, be sure to keep donation receipts and submit them during the year-end tax settlement. Additionally, by donating, you can contribute to society while also saving on taxes, achieving a twofold benefit.

Comparison of Income Deductions and Tax Credits

Item	Recommended Method	General Method
Personal Exemption	Include all family members	Include only yourself
Medical Expenses	Include everyone for maximum deduction	Deduct only for yourself
Donations	Utilize tax credits for regular donations	Irregular donations
Education Expenses	Include all children’s education expenses	Include only your education expenses

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While preparing for year-end tax settlement, it’s good to prepare the necessary documents in advance and create a checklist to ensure you don’t miss any deductions. Additionally, avoid unnecessary tax payments by using simplification services and professional help.

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Check the list of required documents
Verify personal exemptions for family members
Organize receipts for medical and educational expenses
Gather donation receipts
Consult with a professional

📌 핵심 요약

To receive a larger refund during the year-end tax settlement, it is crucial to effectively utilize income deductions and tax credits. Thorough preparation of documents and analysis of your tax situation can yield the maximum refund amount. Seeking professional assistance is also a good strategy.

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FAQ

When does the year-end tax settlement start?

The year-end tax settlement takes place every January.

What documents are needed to receive a refund?

Typically, you will need income-related certificates, medical expense receipts, and education expense receipts.

How can I receive a tax credit for donations?

You can receive tax credits by submitting your donation receipts.