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

IRS Letter 3338C – Audit Reconsideration Acknowledgment

Did you receive IRS Letter 3338C? Learn more about letter 3338C and how to handle it with help from the tax experts at H&R Block.

Direct Deposit Refund In Someone Else’s Account

If you’re hoping to direct deposit your tax refund into someone else’s account, you’ll find this is no longer available. Learn more from the experts at H&R Block.

First-Time Filer: What Happens While The IRS has My Return

An IRS return can take awhile to get refunded back to you. Find out why with this is with insight from H&R Block.

Tax Identity Theft

Learn about the two types of tax identity theft: refund fraud and employment-related theft. Get the IRS definition and read more insight from H&R Block.