Question

If I'm self-employed and didn't pay estimated taxes, can I possibly get a refund?

Answer

It’s possible to have a refund if you didn’t pay estimated taxes. To have a refund, your deductions and credits must total more than your income tax liability.

You’d need to have both of these:

  • A combination of deductions and credits that reduce your tax liability to 0
  • One or more refundable credits to produce a refund

Refundable credits include:

  • Earned Income Credit (EIC)
  • Additional child tax credit
  • American Opportunity Credit
  • Lifetime Learning Credit
  • Alternative Minimum Tax (AMT) credit

However, if you’re self-employed, you’re still subject to self-employment tax. This goes toward Social Security and Medicare taxes.

Related Topics

Related Resources

With my federal return accepted and my state return rejected, can I still expect a direct deposit of my federal refund m

Will your federal refund be deposited if your state return is rejected? Learn more from the tax experts at H&R Block.

6 Ways to Maximize Your Refund This Year

Think it's too late to make a difference on this year's tax return? Think again! Learn how to maximize tax deductions and increase your refund with H&R Block.

Can my tax return direct deposit refund be deposited into a bank account with a different name on the account than my na

Learn how to have your tax refund deposited directly in your bank account with help from the tax experts at H&R Block.

If I check the refund status of my federal refund on the IRS website, which amount do I put as my refund amount?

Learn how to find the status of your federal refund with help from the tax experts at H&R Block.