Tax Refund Estimator 2025-2026
Estimate your federal tax refund or amount owed. Enter your income, withholdings, and deductions to see if you'll get money back or owe the IRS.
Total income from all sources (W-2, 1099, etc.)
From W-2 Box 2 (federal income tax withheld)
Quarterly payments made during the year
Under 17, for Child Tax Credit
Estimated Refund
$3,886
You may receive this refund from the IRS
Federal Tax
$8,114
Effective Rate
10.8%
Payroll Taxes (FICA)
These taxes are typically withheld from your paycheck automatically and fund Social Security & Medicare.
Social Security
$4,650
6.2%
Medicare
$1,088
1.45%
Total FICA
$5,738
7.65%+
Tax Calculation
Your Tax Bracket
When to Expect Your Refund
IRS typically processes returns within these timeframes. Track your refund at IRS.gov/Refunds
Understanding Your Tax Refund
Your refund (or amount owed) depends on how much tax you owe versus how much you've already paid. Here's everything you need to know to maximize your refund and avoid surprises.
Start with Gross Income
All income from wages, self-employment, investments, etc.
Subtract Deductions
Standard or itemized deductions reduce taxable income
Calculate Tax Owed
Apply tax brackets to your taxable income
Apply Tax Credits
Credits directly reduce tax owed (e.g., Child Tax Credit)
Compare to Payments Made
If you paid more than owed = refund. Less = you owe.
Contribute to retirement accounts
Traditional IRA and 401(k) contributions reduce taxable income
Track all deductible expenses
Mortgage interest, state taxes, charitable donations, medical expenses
Claim all eligible credits
Child Tax Credit, Earned Income Credit, education credits
Use an HSA or FSA
Pre-tax healthcare contributions reduce taxable income
Check your filing status
Head of Household has better rates than Single if you qualify
Owing money isn't always bad—it means you kept more of your paycheck during the year. Here are your options:
- •
Pay in full by April 15
Avoid penalties and interest by paying on time
- •
IRS Payment Plan
Set up an installment agreement for 72+ months
- •
Short-term extension
120-day extension to pay if you need more time
Important: Always file on time even if you can't pay. The failure-to-file penalty (5%/month) is much higher than failure-to-pay (0.5%/month).
A large refund means you gave the IRS an interest-free loan. Consider adjusting your W-4 to keep more each paycheck.
Getting a large refund?
Increase your W-4 allowances to reduce withholding and get more in each paycheck.
Owing a lot each year?
Decrease allowances or add extra withholding to avoid underpayment penalties.
Ideal target
Aim for a small refund ($500-$1,000) or break even to maximize your cash flow.
What This Calculator Includes
2025 Tax Brackets
Updated federal brackets for all filing statuses
Standard Deductions
Current standard deduction amounts by status
Child Tax Credit
$2,000 per child with refundable portion
Effective Rate
See your actual tax rate vs marginal bracket
Why Estimate Your Tax Refund?
Plan Your Finances
Know whether to expect money back or prepare to pay. Budget for tax season without surprises.
Adjust Withholdings
If you're getting a large refund, you're giving the IRS an interest-free loan. Update your W-4 to keep more each paycheck.
Avoid Penalties
Owing too much can trigger underpayment penalties. Estimating early lets you make adjustments before year-end.
Official IRS References
- IRS Publication 17: Your Federal Income Tax
Comprehensive guide to individual income tax
- IRS Form 1040: U.S. Individual Income Tax Return
The primary form for filing your taxes
- IRS Tax Inflation Adjustments for 2025
Official 2025 tax brackets and deduction amounts
This calculator provides estimates for federal taxes only. State taxes, self-employment tax, and other factors may affect your actual refund. Consult a tax professional for personalized advice.