The information in this article is up to date through tax year 2019 (taxes filed in 2020).
Tax season can be a time of uncertainty and stress if you don’t have the right tools and information. To avoid any tax time surprises, you can estimate your refund for free with TaxSlayer’s Refund Calculator.
Benefits of Estimating Your Refund
- Be prepared for your refund amount. Get an idea of how much you’ll be refunded or if you may owe additional taxes. With your estimate in mind, you can avoid being caught off guard at tax time and plan ahead if you base any financial decisions around your refund.
- You don’t have to do the work yourself. Knowing what to calculate is confusing enough. How about taking all the tax law changes into account? Just fill in your information, and let the calculator do the rest.
How to Estimate Your Refund
First, gather any forms, receipts, etc. that may affect your taxes before sitting down to make using the calculator even easier. If you don’t have all your information available now, you can still guestimate amounts to get an idea of what kind of refund to expect.
Next, visit TaxSlayer’s Refund Calculator, where you will be guided to input the following information:
- Basic info
- Business income/loss
- Child care
- IRA contribution
- Alimony paid
- Estimated payments
Once you finish filling everything out, you will be given your refund estimate results. You can see your estimated federal refund and refund summary (breakdown of how your estimate was calculated). If you want to save your results, you have the option to provide your email address for a copy your estimate.
Since you already have a lot of your information ready, you may want to get started on your tax return. TaxSlayer helps you get all the deductions and credits you deserve. You can start for free today!