Online Income Tax Calculator 2019 - 2020
Calculate your taxes due with our income tax calculator below or, if you have deductions use one of the Free tax calculator links from TurboTax or H&R Block to find out how much you owe, better yet, how big your refund will be.
Tax season can be a very stressful time for many of us as we ponder over what we may owe to Uncle Sam. Relieving the stress can be a bit of a challenge especially with the uncertainty of owing additional taxes hanging over our shoulders.
Free Federal Income Tax Calculators
Fortunately the uncertainty is a lot of what weighs us down, and uncertainty can be easily cured. Free online tax return calculators can help us get a good picture of where we stand with the IRS. This in turn allows us to quit wondering what our financial obligations are instead of working to fulfill them.
It may sound weird, but for me, knowing what I owe Uncle Same gets me out of the stressful mood of uncertainty and into the mood of focusing on how to address the issue. Granted, just knowing I owe is not a comfortable feeling, but to me it's better than the unknown...
In order to make important financial and tax planning decisions, it is wise to estimate your tax liability several times throughout the tax year. This keeps you on top of your finances and helps you avoid late quarterly payment penalties, as well as over paying your taxes.
To calculate your tax return online you need a few figures to plug into the calculators in order to get a fairly accurate estimate. See a list of those figures needed below.
You can calculate tax return figures online by entering your actual or estimated income, dependent, deduction, and tax credit information. You don't need in-depth tax knowledge to calculate your tax return.
Income Tax Calculator Checklist:
Is the taxpayer and-or spouse being claimed as a dependent on another persons return?
Number of Children/Dependents Number of Children Qualifying for EIC Credit Number of Qualifying Child Tax Credit Children Number of Children Qualifying for Childcare Amount of Childcare Expenses Paid $ W-2 Gross Income W-2 Federal Withholding W-2 State Withholding Advanced EIC from W-2 Unemployment Compensation Retirement Income Form 1099-R Social Security Income Interest/Dividends/Other Income IRA/Deductions Other Tax Withholding or Estate Tax
Calculate Tax Return Liability Online
As they say, there is nothing more certain in life than death and taxes. Unfortunately, without planning, your annual tax liability can be very uncertain. Use the TurboTax or HR Block estimator calculator links above to help determine your estimated tax liability. It's always smart before you make decisions on costly purchases to use one of the free tax estimator calculator tools from H&R Block or TurboTax. These calculators are based on the IRS 1040, 1040A and 1040EZ federal income tax forms, making them applicable for anyone to use. The tax estimator tools are intended to provide you with valuable preliminary information that can assist you in making sound investment or other finance related personal choices.
Your Data is Privacy Protected
The tax calculators do not store any of your information, and there is no need to enter sensitive personnel data such as your name or social security number. The online tax calculators are based on tax year related IRS income tax rates and they show you how your federal income taxes might be affected should your income or tax bracket change throughout the year. They can also help you plan for other financial changes such as a new job, marriage, additional dependents, children, home purchase, mortgage refinancing, additional education, divorce, and so on.
Use our online tax calculator to estimate tax return figures regularly and stay on top of your financial liabilities.
Our income tax calculator is designed to help you calculate your income tax return quickly and accurately. If you are planning to itemize deductions, you have more work to do, but. you can rest assured that your calculations are accurate if you use one of the tax software calculators from TurboTax or H&R Block.
These tax calculators take into account every deduction and credit to assure an accurate calculation.
Without great software programs like these, the task of claiming tax deductions can be very daunting, and you may find yourself missing out on some deductions that are supposed to give you substantial savings. Try one of the TurboTax or HR Block income tax calculators today!
Keeping your stress level down during the tax season can pose a daunting challenge if you fear you are going to owe additional taxes. An income tax calculation can reduce your anxiety by eliminating the unknown so that you can focus on meeting your financial obligation.