Tax Refund Estimator
Estimate whether you'll get a tax refund or owe money. Enter your income, withholding from W-2, estimated payments, and tax credits to see your result.
Tax Credits
Frequently Asked Questions
How is my tax refund calculated?
Your refund (or amount owed) equals your total payments (withholding + estimated payments) minus your tax liability after credits. If payments exceed tax, you get a refund. If tax exceeds payments, you owe.
What tax credits can I claim?
Common credits include the Child Tax Credit ($2,000 per child under 17), education credits (up to $2,500 American Opportunity Credit), and the EV tax credit (up to $7,500 for qualifying electric vehicles).
How do I adjust my withholding?
File a new W-4 with your employer. Increase withholding if you owe at tax time, or decrease it if you get a large refund. The goal is to break even — a large refund means you gave the government an interest-free loan.