The year-end settlement refers to the adjustment of the tax paid by the wage earner based on balancing withholding tax and the finalized tax amount through various tax benefits. Most wage earners are happy with the refunds and angry about the additional payments through year-end tax settlements. Although the wage earner only receives the principal without an interest cost when the government returns taxes collected excessively, they do not realize that they lose an interest cost and an opportunity cost. This study examined that the perception of wage earners could change depending on how to describe the year-end tax settlement. Framing effect is an cognitive bias that preference or attitude toward an option would vary depending on whether it is presented with positive or negative frame because of a tendency avoiding risk under gain domain but seeking risk under loss domain. Thus, this study try to shift the perceptual focus of wage earners from the principal to the interest cost and the opportunity cost using framing effect. Specifically, I expected that the attitude of wage earners toward year-end tax settlements would be more positive under the loan framing condition focusing on the interest cots and the oppurtunity cost than under the neutral condition, and the results of Experiment 1 supported this prediction. In Experiment 2, I examined whether the choice of wage earners for withholding tax ratio would be affected by the framing. Because most taxpayers prefer the tax refund to the additional payment, the government gave the wage earner the option for choosing withholding tax ratio (80%, 100%, 120%). If they want to receive tax turn after the year-end tex settlement, they would chose 120% as withholding tax ratio. If they want to pay the addition tax payment, they would choose 80%. Thus, I expected that the choice ratio of 120% withholding tax ratio would increase under the loan framing condition, compared to the neutral condition, but there was no significant effect. Based on what the study found, the implications were discussed.