Estimated Federal Tax Return
Having an estimate of what your tax return will be can be helpful information, even before you actually complete the required forms. It is often possible to get an estimated tax return by using one or more special tax software programs. This is an estimate, not an actual amount you will receive or owe to the federal government when completing your federal income tax return. However, it can help to provide some key information for you.
To estimate tax refund amounts, you can use specially designed software programs and free calculators found online. These will take some basic information from you, including information about your dependents, income, and filing status, and provide a basic figure. You can easily do a search for "estimate my tax return" to find such calculators and tools.
As an estimate, you can use this information to help you with planning. It can be especially helpful when you believe you will owe taxes to the IRS. This estimated tax return can help you to know how much you can expect to pay to the IRS when you do complete your final return.
It's important to realize that this information is not complete. Until you complete your actual 1040 or other IRS filing forms, you will not know which credits you qualify for or what deductions fit your needs. This can greatly impact the amount of any refund or taxes owed to the IRS.
It is often best to just get your return completed in full. To speed up the process or to make it easier on yourself, hire H&R Block to handle the process for you. You will get accurate tax filing help and even an initial estimate of your tax return. Use free programs and tools to give you some information, but get an accurate report from an H&R Block office near you.