Tax Refund Calculator
As the new year approaches and tax season kicks in, I find myself in a bit of a haze every year wondering what the outlook is for my income tax refund. Fortunately, over the years I have been using a tax refund calculator to ease my mind ahead of time and calculate my tax refund estimate early to relieve stress.
Most tax refund calculators on the market today are able to give a reasonably accurate estimate after a tax filer answers a few questions about income and deductions. This information is then processed by using tax rate formulas for that tax year being filed. These calculator tools are fairly accurate at giving you a reasonably close estimate of your tax liability based on the data you provide.
Information required for you tax refund calculation includes how much you earned over the tax year, and what taxes have already been paid through paycheck withholding or quarterly payments. These items provide the basic details needed for calculating your tax refund or how much you owe. The tax refund calculator result allows you to start planning for meeting your tax liability.
TurboTax Online Tax Preparation