How To Calculate Tax Refund
Learning how to calculate your tax refund is as easy as following these simple steps. Technology has greatly improved over the years, especially in regards to tax software. Nowadays, with a little help from your computer, an everyday Joe can accurately calculate his tax refund before filing taxes. In this article, we will show you step by step the ways how you can calculate your tax refund.
To calculate your tax refund, you will need:
- a computer
- tax software (physical copy or online)
- The old fashion way still works. If you do not have access to a secure computer, then you might want to calculate your tax refund by hand. Yes, you heard correctly, the Internal Revenue Services still issues paper copies of the tax forms, and they will mail you one upon request. You can use the withholding calculation of the specific year in order to calculate your tax refund.
- Go online. Luckily, the IRS has improved their systems over the years. Today, you can calculate your tax refund by simply going to IRS.gov. Find the specific year's withholding calculator. It is as easy and as accurate of an estimate as possible. Best of all, it is free of charge for anyone.
- Go with third party software. Third party software is just as good as the IRS calculator, but they have add on features that will make your tax calculation interactive and to some extent, fun. Depending on your income level, some third party software will calculate a tax refund for you free of charge. You can find a list of approved third party tax software easily on IRS.gov.
- Keep in mind, you will need some personal information in order to calculate tax refund.