2024 근로소득 원천징수영수증 발급 방법(feat. 홈택스, 손택스) How to issue a 2024 earned income withholding receipt (feat. Hometax, Sontax)

Today we will learn about earned income withholding receipts. The earned income withholding receipt is a document that proves the income and taxes received by the worker. It is necessary when preparing year-end tax settlements or tax invoices. However, there are many people who do not know what an earned income withholding receipt is or how to obtain one. So, in this post, we will explain in detail the definition, necessity, issuance method, and use of the earned income withholding receipt. After reading this post, you will be familiar with earned income withholding receipts. So shall we begin?

근로소득 원천징수영수증

근로소득 원천징수영수증

 

☞ Go to Issuance of Earned Income Withholding Tax Receipt ☜
1. Definition and necessity of earned income withholding receipt

What is an earned income withholding receipt?
An earned income withholding receipt is a document that proves the income and taxes received by a worker. Income received by workers includes salary, bonus, and severance pay. Taxes include income tax, local income tax, national pension, health insurance, employment insurance, and long-term care insurance. The earned income withholding receipt records the total and details of such income and taxes. The earned income withholding receipt is an important document that allows you to see a worker’s income and taxes at a glance.

Why you need an earned income withholding tax receipt
There are two reasons why you need an earned income withholding tax receipt. First, it is for year-end tax settlement. Year-end tax settlement is the process of settling the income and taxes received by workers during the year. When doing year-end tax settlement, you must submit your earned income withholding tax receipt. Through the earned income withholding receipt, workers can check the income they received and the taxes paid. In addition, the earned income withholding receipt also shows whether there are other income or deductions in addition to the income and taxes received by the worker. For example, there are housing subscription savings, pension savings, donations, medical expenses, education expenses, etc. If you have such income or deductions, you can receive a tax refund or pay additional taxes at the year-end tax settlement. Therefore, the earned income withholding receipt is an essential document for year-end tax settlement.

 

Second, it is for tax invoice. A tax invoice is a document issued to the recipient when a business supplies goods or services and receives payment. The tax invoice records the supply price, tax amount, and information on the supplier and recipient. A tax invoice is a document required for reporting and paying value-added tax. Workers can prove the income and taxes they received through earned income withholding receipts. In addition, the earned income withholding receipt records even if the worker supplies goods or services as a business owner and receives compensation. For example, business income, rental income, copyright fees, lecture fees, etc. If you have this income, you must issue or receive a tax invoice. Therefore, the earned income withholding receipt is an essential document when preparing a tax invoice.

2. How to issue an earned income withholding tax receipt

Issuance method using the National Tax Service’s Hometax
National Tax Service Hometax is an internet tax service operated by the National Tax Service. By using the National Tax Service’s Hometax, you can easily receive an earned income withholding receipt. Here’s how to use the National Tax Service’s Home Tax service:

Access the National Tax Service’s Hometax and log in. To log in, you need a public certificate or mobile phone authentication.
Select the Year-end Tax Settlement/Payment Statement menu in My Home Tax.
Check and print the submission details, such as payment statements. To print, you need a printer.
Issuance method using the National Tax Service Sontax app
National Tax Service Sontax is the mobile version of National Tax Service Hometax. By using the National Tax Service’s Sontax app, you can easily receive an earned income withholding tax receipt using your smartphone. Here’s how to use the National Tax Service’s Sontax app:

Install and run the National Tax Service Sontax app on your smartphone. Installation can be done from Play Store or App Store.
Log in to the National Tax Service Sontax app. To log in, you need a public certificate or mobile phone authentication.
In My Home Tax, select the Simplified Year-End Settlement/Payment Statement menu.
Search, confirm, and print the earned income payment statement. To print, you need a wireless printer.
Issuance method through the company you are working for
You can also receive an earned income withholding tax receipt through the company you work for. The company where the employee is employed is obligated to issue an earned income withholding tax receipt to the employee. The issuance method through the company you are working for is as follows.

Request an employment income withholding receipt to be issued by the human resources manager of the company you are working for. Requests can be made by phone or email.
The HR manager issues and delivers an earned income withholding tax receipt. Delivery methods include postal mail, email, and personnel systems.
Check and print the earned income withholding tax receipt. To print, you need a printer.
3. How to use earned income withholding receipts

How to use it for year-end tax settlement
What is year-end tax settlement?
Year-end tax settlement is the process of settling the income and taxes received by workers during the year. Through year-end tax settlement, the taxes to be paid by workers are confirmed, and the taxes can be refunded or paid additionally. Year-end tax settlement is carried out from January to February every year. When doing year-end tax settlement, you must submit your earned income withholding tax receipt.

How do I use earned income withholding receipts in year-end tax settlement?
How to use earned income withholding receipts in year-end tax settlement is as follows.

Check your earned income withholding receipt and confirm that the total and details of income and taxes are correct. If there is an error, please contact the company you are working for or the National Tax Service and request that it be corrected.
In addition to the income and taxes recorded on the earned income withholding receipt, check whether there are any other income or deductions. For example, there are housing subscription savings, pension savings, donations, medical expenses, education expenses, etc. If you have such income or deductions, you can receive a tax refund or pay additional taxes at the year-end tax settlement.
I apply for year-end tax settlement. There are several ways to apply for year-end tax settlement: the company’s personnel system, the National Tax Service’s Hometax, and the National Tax Service’s Sontax app. When applying for year-end tax settlement, submit your earned income withholding receipt and enter any other income or deductions.
Check the year-end tax settlement results. The year-end tax settlement results inform you of the amount to be refunded or additionally paid in taxes. If you are receiving a tax refund, simply enter the account number for which you would like to receive a refund. If you pay additional taxes, you must pay them within the payment due date.
This way, you can use your earned income withholding receipt for year-end tax settlement. Year-end tax settlement is an important process to accurately calculate workers’ income and taxes. Therefore, please keep your earned income withholding receipt carefully, carefully apply for year-end tax settlement, and check the results carefully.

How to use it for tax invoice
What is a tax invoice?
A tax invoice is a document issued to the recipient when a business supplies goods or services and receives payment. The tax invoice records the supply price, tax amount, and information on the supplier and recipient. A tax invoice is a document required for reporting and paying value-added tax. Workers can prove the income and taxes they received through earned income withholding receipts.

How do I use my earned income withholding receipt on my tax invoice?
Here’s how to use your earned income withholding receipt on your tax invoice:

Check the earned income withholding tax receipt and check if there are any details related to cases where the worker supplied goods or services as a business owner and received compensation. For example, there are business income, rental income, copyright fees, lecture fees, etc. If you have this income, you must issue or receive a tax invoice.
Issue or receive a tax invoice. There are several ways to issue or receive a tax invoice: the National Tax Service’s Hometax, the National Tax Service’s Sontax app, and the electronic tax invoice system. When issuing or receiving a tax invoice, refer to the earned income withholding receipt and enter the supply price, tax amount, and information on the supplier and recipient.
Check tax invoices, report and pay value-added tax. Value-added tax can be reported and paid monthly, quarterly, semi-annually, or annually. There are several ways to report and pay value-added tax: the National Tax Service’s Hometax, the National Tax Service’s Sontax app, and internet banking. When reporting and paying value-added tax, a tax invoice is submitted and the tax base and tax amount of value-added tax are calculated.
Tax invoices are important documents that prove the supply and payment of goods or services for a business. Therefore, please keep your earned income withholding receipts carefully, accurately fill out tax invoices, and report and pay value-added tax quickly and accurately.

 

Above we have learned about earned income withholding receipts. Earned income withholding receipts are important documents that prove a worker’s income and taxes. You can prepare year-end tax settlement or tax invoice using your earned income withholding receipt. There are several ways to obtain an earned income withholding receipt: through the National Tax Service’s Hometax, through the National Tax Service’s Sontax app, and through the company you work for. If you keep and use your earned income withholding tax receipt properly, you can save on taxes and use tax services conveniently.