Tax Estimate Calculator
Our tax estimate calculator offers a free and easy way to calculate
tax estimates online in just a few minutes. Estimating your tax
liability prior to preparing your tax return can in fact relieve
a lot of anxiety over the unknown, which in turn will give you a
good picture of your financial obligation with the IRS.
Calculating your income tax estimation is a fairly private matter
as well since no personal identity information is required. This
is a big plus if your like me, since I don't like filling in my
personal identity data on any form that I don't have too.
online tax estimate calculator works with all the following tax filing
Married Filing Separate
Married Filing Jointly
Head of Household
Federal IRS Income Tax Filing Support.
Income Tax Estimate Calculator
How to use our federal tax refund estimate calculator
- Select your filing status and the tax year you are
- Enter your net taxable income
- net taxable income is your total income after deductions
and exemptions have been deducted
- Calculate your estimated taxes due, or refund
Words from the wise, estimate your tax return refund several
times a year to insure your not overpaying or underpaying in tax
- Overpaying means your letting Uncle Same make all the
interest on your money until they pay you your refund.
- Underpaying means you may get socked with an
underpayment penalty from the IRS
Adjusting your Tax Withholding
You Can Benefit From Using the Income Tax Estimator Calculator.
Avoid underpayments and overpayments by using a
Calculator to help
calculate taxes that are withheld from paychecks and
quarterly tax payments. You should try to have your withholding
amount match your actual tax liability so that you come out even
when filing your taxes.
If not enough tax is withheld, you will owe taxes at the end of
the year and may have to pay interest and a penalty. If too much
tax is withheld, you will lose the interest and use of that
money until you get your refund.
Tax filers who would like to change their withholding to reduce
their tax refund or their balance due can benefit greatly by
using the tax estimate calculator.