IRS Tax Refund Estimator (Fast & Accurate)
See how much money you will get back from the IRS this year based on your income and credits.
Amount You May Owe IRS
Performance Forecast
Refund Calculation Narrative
Analysis of your estimated tax liability versus withholding for the current tax year.
| Description | Value | Reference |
|---|---|---|
| 1 Gross Income | $85,000 | Input |
| 2 Standard Deduction | -$14,600 | 2024 IRS |
| 3 401k Contribution | -0% | Pre-Tax |
| 4 Federal Tax (After Credits) | $10,541 | Net Fed |
| 5 Estimated State Tax | $3,520 | 5% Rate |
| 6 Total Tax Liability | $14,061 | Fed + State |
| 7 Total Tax Withheld | $12,000 | From Paycheck |
| 8 Total Tax Owed | $2,061 | Final Standing |
Will you get a refund ?
Most Americans receive a tax refund every year because their employers withhold more tax than necessary.This estimator helps you see your standing before you file.π Key Factors
1. Withholding : The amount already paid to the IRS through your paychecks. 2. Child Tax Credit : A powerful credit($2,000 per child in 2024) that directly reduces your tax bill dollar -for-dollar. 3. Standard Deduction : Reduces your taxable income.For 2024, it is $14, 600 for singles.Refund vs.Owed
If your withholding exceeds your total tax liability, you get a Refund **.If your liability is higher than what you paid, you will ** Owe money when filing.Results IRS Tax Refund Estimator (Fast & Accurate)
This is a powerful online tool designed to help you calculate your Tax metrics instantly. We are dedicated to providing accurate and easy-to-use financial and life tools.
Community Feedback
"The child tax credit estimation matches my accountant's numbers exactly. Great tool!"
"Clean interface and very fast calculation. Helped me plan my withholdings."
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