– 1 in 8 Comprehensive Income Tax Filers May Get Additional Refunds by Filing Corrections for the Past 5 Years
– It appears that the refund amount is larger for workers with only earned income… You must check the refund
– Director Chae I-bae: “Taxpayers’ rights should be actively exercised through digital-based tax assistance services, etc.”
One in eight comprehensive income tax filers may receive an 'additional refund' for the past five years due to overpayment caused by missed deductions, and in the case of employees with only earned income, the refund amount may actually be larger.
Jobis&Villains (CEOs Yongsu Jeong and Juseok Baek), which operates Samjyeonsam, a tax assistance service for 20 million people, announced on the 26th that it obtained these meaningful results by citing the ‘Report on Analysis of the Possibility of Tax Correction Claims for Regular and Late Filers’ recently published by the policy research institute ‘Samjyeonsam Research Lab.’
The report analyzed that among regular and late filers of comprehensive income tax, about 13%, or 1 in 8 people, could receive additional refunds for the past 5 years for which they could file a correction. The average refundable amount was 330,000 won for regular filers and 150,000 won for late filers. A correction claim is a system in which taxpayers request a refund of overpaid taxes.
In the analysis by income type, the additional refund amount through tax correction claims by wage earners was the largest.
For workers with only earned income, the average refund was 760,000 won, which was 270,000 won higher than that of workers with other income. It is easy to think that workers who file their year-end tax settlements every year will not receive a refund, but additional refunds were confirmed due to omissions and overpayments caused by failure to reflect the latest deductions.
The study targeted 12 million customer data items collected through Samcheongsam during the 2024 comprehensive income tax return filing period, and used them for research purposes after anonymization in accordance with the guidelines of the Personal Information Protection Commission.
Chae I-bae, head of Samjyeonsam Research Lab, said, “The tax correction claim system is a system that realizes taxpayers’ rights guaranteed under tax law,” and “the foundation for exercising taxpayers’ rights is expanding through digital-based tax assistance services.”
Samjwimsam Research Lab has been researching tax policy, data industry, and socio-economics in general with a focus on taxes that are closely related to our lives, such as by appointing former National Assembly member Chae I-bae as its first director in April and hosting the first National Assembly debate on the topic of “Improving the disability compensation system for severely ill patients.”
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