Calculate tax return refund
or taxes owed to determine your refund amount or tax liability
to the IRS. These calculators are great tools to estimate your
federal IRS tax amount online the easy way so will know what your
obligation is to Uncle Sam...
Estimate IRS Federal Income Taxes FREE With This
Online Tax Return Refund Calculator
is a list of some items required for accurate tax calculations:
the tax year you are filing
Select your filing status:
Married Filing Single
Married Filing Jointly
Head of Household
Enter Your Taxable Income
Enter Total Tax Deductions you are taking
Enter the Number of Exemption Credits You Will Claim
For the best results It is suggested that you calculate tax refund
or liability with the tax calculator that is available through the
online tax preparation
software service that your preparing your federal
income tax return with since all of your information will be in one
place and the tax calculations will be more accurate with these full
Top choices for online tax services include TurboTax and H&R Block.
These two brands pretty much rule the online tax preparation and
filing network by supplying very user friendly and affordable online
Calculate tax return refund income tax liability anytime of year to
see if you need to make an adjustment in paycheck withholdings. Too
little paid in could result in a larger taxes due bill come tax
season, and possible underpayment penalties.
Too much paid in will
put that extra cash in Uncle Sam's pocket so that he gets all the
interest earned on your overpayment instead of you. In this case it
may be wise to lower your
tax withholdings so that you get to
collect that interest and end up with more cash for yourself in each
Another good reason to calculate tax return refunds prior to
preparing your tax return is to relieve the stress and anxiety that
may be lingering due to the unknown.
Not knowing what your tax
obligation is can weigh heavy on your sanity. Use a tax refund
calculator to remove that uncertainty so you can focus on meeting
your tax liability obligation.
For those who are planning to itemize deductions, it can be
difficult for you to know what income tax deductions you may be able
to qualify since each deduction has its own set of requirements to
The task of claiming tax deductions without using a quality tax
preparation program can be very confusing and you may find yourself
missing some valuable deductions that could cost you some
substantial savings on your tax bill. Use a top rated program that
guarantees accurate calculation and you biggest refund!
tax bracket is determined
by your last dollar earned for the tax year. However
your tax rate is actually a variable of all
tax rates up
to your last dollar earned as each tax rate portion is
added together to give you your overall taxes due or
As your income increases into
each tax bracket, that portion of income falling
within the next tax bracket is taxed at that higher tax
bracket rate. It is then added to the previous tax
calculations from the lower tax brackets to determine
overall tax liability.
To recap: you
are applying different tax rates to each income portion
falling within each tax bracket then adding this total
together to determine what your tax liability will be.