If you choose to file later, premium support is included across all software tiers. The Tax Withholding Estimator is not yet updated to reflect certain provisions of the One, Big, Beautiful Bill Act (OBBBA). The estimator has been updated to account for the increased standard deduction and Child Tax Credit amounts for tax year 2025 from the OBBBA.
Track your tax refund
The tax return calculator will then provide an estimate of the refund or liablity you can expect to receive or pay, respectively. A tax return calculator is an invaluable tool for estimating your income tax liability for the year. It takes into account various factors like your gross income, tax credits, and deductions to give you an estimate of the tax you owe or the refund you can expect. They can handle complex tax situations, making them a must-have tool for everyone, from W-2 employees to 1099 workers. Tax rates in the United States are progressive, meaning the rate increases as your income increases. For example, if you fall into a tax bracket with a tax rate of 15.3%, that percentage of your taxable income will go to the IRS.
2024 Tax Refund Calculator
These buckets are called “tax brackets.” The idea is to treat everyone equally while still bookkeeping requiring higher taxes from higher earners. Instead of reading up on Taxes, simply use one of these 15 Tax Calculators or Estimators below. Get your personal answers about your 2025 return quickly, easily, and without having to read a ton of pages or pay a tax professional. We also have an overview of tax changes for Tax year 2025 compared with previous years. Free tools to help you better manage your finances, your health, caring for a loved one and planning for retirement. If an income type is not listed here, summarize the remaining income types and enter the total amount below as one entry under Other Income.
How to fill out the tax refund calculator
It uses this data to show you how your federal income taxes might be affected should your taxable income or tax bracket change. If you’re a 1099er, you’re responsible for paying self-employment tax, which includes Social Security and Medicare taxes. The self-employment estimated tax rate is 15.3%, and it’s crucial to account for this when approximating your tax burden. You can use a 1099 tax return calculator to get an accurate estimate of your tax burden, including the self-employment portion. Don’t forget to consider any deductions that can lower your taxable income and, consequently, your tax bill.
Find your tax bracket
However, getting that difference refunded to you will depend on whether the tax credits that you qualify for are refundable. Whether you save it for retirement, use it to pay down credit card debt or spend it immediately, a tax refund can be a great financial boost. Many Americans depend on their tax refund as an important part of their annual budget. If you want to estimate how big your refund will be this year, you’ll be well served by our free tax return calculator. In 2026, estimated tax payments are due April 15, June 16 and Sept. 15. The final due date is Jan. 15, 2027, which applies to income earned in the fourth quarter of 2026.
Can I Take the Standard Deduction and Deduct Business Expenses?
Pamela de la Fuente leads NerdWallet’s consumer credit and debt team. Her team covers credit scores, credit reports, identity protection and ways to avoid, manage and eliminate debt. Previously, she led taxes and retirement coverage at NerdWallet.
Access your tax information with an IRS account.
Remember this is just a tax estimator so you should file a proper tax return to get exact figures. Currently, Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming do not have income taxes. If you live in one of these states, our tax return calculator will be most accurate. You may not have had to file an income tax return for the prior tax year if your gross income was below a certain threshold. See Who Must File in Publication 501, Dependents, Standard Deduction and Filing Information, for information on filing requirements for most taxpayers.
Why check your withholding
They have to calculate and remit their Social Security and Medicare taxes when they file, to the tune of 15.3%. To learn more about why this rate is so high, check out our guide to self-employment taxes. This refers to the amount of federal and state taxes that are taken out of your paycheck by your employer throughout the year. If you know your employer’s exact withholding, you can input it under “Add advanced info”. Tax Season begins in January of 2026 for 2025 IRS and State Returns. You can use the eFile platform to prepare and e-file your taxes once the IRS begins processing 2025 Returns until October 2026.
- Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice.
- The Tax Withholding Estimator is not yet updated to reflect certain provisions of the One, Big, Beautiful Bill Act (OBBBA).
- Prior to becoming an editor and content strategist, she covered small business and taxes at NerdWallet.
- People who itemize tend to do so because their deductions add up to more than the standard deduction, saving them money.
- Taxes must be paid as you earn or receive income during the year, either through withholding or estimated tax payments.
- Tax breaks that reduce the amount of income you’re taxed on.
Use Keeper’s income tax calculator to see an estimate of your tax bill or refund. Feel free to tinker around, or get serious with our advanced info fields. There are numerous credits available for a wide range of causes, and all reduce your tax liability dollar for dollar. That means a $1,000 tax credit reduces your tax bill by $1,000. Reviewing all the options may be time-consuming, but could also prove to be profitable.
Do you own a home, have student loans, give donations, or any other itemized deductions? We use this information in our tax return calculator to give you an accurate estimate of your return. The tax calculator bookkeeping and payroll services looks like a regular IRS income tax form and lets you enter your actual or estimated income, dependent(s), tax deduction(s), and tax credit information.