Tax Refund Estimator

Refund and amount-owed planning

A refund estimate compares payments already made with estimated final federal tax. It should not be confused with total tax liability.

Worked example

If estimated final federal tax is $6,800 and withholding plus payments are $7,600, the estimated refund is $800. If payments are lower than final tax, the result is an estimated amount owed.

Methodology

The tool estimates taxable income, federal income tax by bracket, subtracts credits, then compares final tax with withholding and estimated payments entered by the user.