Eligible individuals who missed the regular application period for the Earned Income Tax Credit (EITC) can apply through a post-deadline application by December 1. However, while the media has recently raised the possibility of expanding eligibility and increasing the maximum payout, the government has stated that specific reform details have not yet been decided. Therefore, it is important to first review the current eligibility requirements and application procedures.

■ What Is the Earned Income Tax Credit? According to the National Tax Service (NTS), the EITC is a system designed to encourage work and support actual income by providing credit payments to low-income worker and business-owner households. The payment amount is determined by comprehensively considering household composition, total combined income of spouses, and assets.

• ■ Current Income and Asset Criteria
• The current total combined income criteria for spouses, as announced by the NTS, are as follows:
• Single-person household: Less than 22 million won
• Single-earner household: Less than 32 million won
• Dual-earner household: Less than 44 million won

The maximum payment amounts are 1.65 million won for single-person households, 2.85 million won for single-earner households, and 3.3 million won for dual-earner households.

Meeting the income criteria alone is not sufficient for eligibility. According to Bokjiro, the total assets of all household members must be less than 240 million won as of June 1 of the previous year. If total assets are less than 170 million won, 100% of the calculated amount is paid. However, if total assets are between 170 million won and 240 million won, only 50% is paid.

■ Post-Deadline Application Closes on December 1 The NTS advises that those who missed the 2026 regular application period can submit a post-deadline application from June 2 to December 1. However, post-deadline applicants will receive 95% of the assessed credit amount after a review process.

Applications can be submitted through the mobile or PC services of NTS Hometax, or via ARS phone. Those who have received an application notice can apply by entering their individual identification number. Even those who have not received a notice can use the direct application route on Hometax if they meet the eligibility requirements.

If an eligible applicant consents to automatic application during the application period, their application will be automatically submitted in subsequent years when they are identified as an eligible candidate for the following two years. However, if income, assets, and other application requirements are not met, the actual application will not be processed.

■ Proof Documents Required in Case of Income or Asset Discrepancies If there is a discrepancy between the application data and the actual situation, separate proof documents may be required. According to Government 24, if the total reported salary to the NTS does not match actual income, proof of total salary may need to be submitted. If a jeonse deposit evaluation is required, asset verification documents such as a jeonse or lease agreement or a free-of-charge residence confirmation may be requested.

■ Next Year's Reform Possibility vs. Current Criteria: Clear Distinction Essential Economic channel Maeil Business TV recently reported on the possibility of expanding EITC criteria next year. It discussed the potential increase in maximum payouts for dual-earner households and the expansion of income criteria, also noting that those who missed the regular application can apply by December 1 as a post-deadline application.

However, the Republic of Korea Policy Briefing stated in a press explanation on July 30 that no specific details regarding the EITC reform have been decided. Whether income criteria and maximum payouts will be increased should be determined after future tax reform plans and related legislation are finalized.

Therefore, current applicants must follow the income and asset criteria and application deadlines provided by the NTS. The possibility of changes to the system next year should not be accepted as confirmed fact until the government makes an official announcement. Those who missed the regular application should recheck their household composition, total income, and asset criteria before December 1. Even without receiving a notice, they may still meet the requirements, so it is advisable to verify eligibility through Hometax direct application or NTS consultation.

[※ This article was written based on public materials from the National Tax Service, Government 24, Bokjiro, and the Republic of Korea Policy Briefing. Individual eligibility and payment amounts may vary depending on the results of the NTS review. This is an AI-assisted article.]