About how much will my tax return be

Free for Simple Tax Returns. Maximum Refund Guaranteed. Bigger Refund or Larger Paychecks? Print an Updated W-4. Increase Your Tax Savings. Industry-Specific Deductions.

Get Every Dollar You Deserve. You can check the status of your refund within hours after the IRS notifies you that it has received your e-filed tax return (or four weeks after mailing your paper return, if you’re old school). This tax calculator is solely an estimation tool and should only be used to estimate your tax liability or refund. It should not be used for any other purpose, such as preparing a federal income tax return , or to estimate anything other than your own personal tax liability.

Approval and loan amount based on expected refund amount, ID verification, eligibility criteria, and underwriting. Discuss what your tax refund could be costing you. Calculate how your tax liability could change under the new tax law.

Read how small changes can help you reach your saving goals.

In its simplest form, tax returns are issued when the amount of money being withheld from your paycheck for taxes exceeds the amount you owe the IRS. When this happens, you are due a tax return from the government. Conversely, you may owe if the money you withheld is too low. How to increase your tax return?

How do you calculate your tax return? Tax credits directly reduce the amount of tax you owe, dollar for dollar. A tax credit valued at $ 0, for instance, lowers your tax bill by $000. Tax deductions, on the other han reduce how much of your income is subject to taxes.

If you have filed your federal income taxes and expect to receive a refund , you can track its status. Have your Social Security number, filing status, and the exact whole dollar amount of your refund ready. You can also check the status of your one-time coronavirus stimulus check. Get Do My Tax Return Online. For example, let’s say your employer takes $20out of your paycheck throughout the year for federal income taxes.

Using an online calculator helps remove all guesswork. Knowing in advance will allow you to make plans on how you will spend your refund. TurboTax Tax Refund Calculator.

Enter in your information and get an estimate of your tax refund.

The graphics and sliders make understanding taxes very easy, and it updates your estimate as you add in information. Typically, you receive a tax refund if you pay more tax during the year than you actually owe. This most commonly occurs if too much is withheld from your paychecks. Another scenario that could create a refund is if you receive a refundable tax credit that is larger than the amount you owe. Doubles the Standard Deduction : The standard deduction amount is increased from $3to $10for Single and Married Filing Separately filers, $17to $20for Married Filing Jointly and Widow filers, and $3to $10for Heads of Household.

If you aren’t getting a tax refund and instead owe money come tax day, there may be a way to lessen the sting. For starters, you should still file your taxes on time. Otherwise, you will also have to pay a fee for filing late.

If you don’t think you can afford your full tax bill, then you should pay as much as you can and. Unfortunately, creditors can swallow up that refund through offsets, which take money from your tax refund in much the same way that garnishment can hit your paycheck. However, at higher income levels, the child tax credit is phased out and begins to disappear as income rises above $400on joint returns, and above $200on single and head of household returns.

Prevent new tax liens from being imposed on you. A Tax Agent Will Answer in Minutes! Questions Answered Every Seconds.