Tax Refund / Amount Owed Estimator
Estimate whether you'll receive a refund or owe taxes based on your income, withholding, and estimated payments.
📅 Tax Year:
Estimate Your Refund
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$
From paystubs or W-2
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$
$
How It Works
This calculator compares your estimated tax liability to what you've already paid through withholding and estimated payments.
Formula
Refund or Owed = (Withholding + Estimated Payments + Credits) - Tax Liability If positive: You get a refund If negative: You owe additional tax
Your tax liability is calculated using federal income tax brackets based on your taxable income.
Examples
Example 1: Getting a Refund
- Income: $65,000 → Tax liability: ~$5,500
- Withheld: $7,000
- Result: $1,500 refund
Example 2: Owing Taxes
- Income: $100,000 → Tax liability: ~$12,000
- Withheld: $9,000
- Result: $3,000 owed
Frequently Asked Questions
When will I receive my refund?
Most refunds are issued within 21 days if filing electronically with
direct deposit. Paper returns and certain credits (like EITC) may take longer.
What if I owe taxes?
You must pay any taxes owed by April 15 to avoid penalties and
interest. You can set up a payment plan with the IRS if needed.
Should I adjust my withholding?
If you consistently get large refunds or owe money, adjusting your
W-4 can help. A large refund means you're giving the IRS an interest-free loan.
Does this include state taxes?
No, this estimates federal taxes only. State refunds/payments are
separate.
What about self-employment income?
Self-employment income adds self-employment tax (15.3%) on top of
income tax. Use our Self-Employment Tax calculator for a complete estimate.
How accurate is this estimate?
This is a simplified estimate. Actual results depend on complete
income, all deductions/credits, and other factors not captured here.