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

Lowest & Highest Taxed States [INFOGRAPHIC]

Ever wonder what the lowest and highest taxed states are? State taxes vary from state to state, ranging from 0 - 13.3%. This infographic shows...

IRS Letter 4281C – Breach Notification Letter

Your personal information was lost or disclosed through an IRS data breach. Learn more about IRS letter 4281C from the tax experts at H&R Block.

IRS Letter 979 – Your Records Were Not Adequate

Learn more about letter 979 and how to handle an IRS audit of your business return with help from the tax experts at H&R Block.

IRS Payments

Learn about your options to pay your tax debt. Read the IRS definition and get more insight from the tax experts at H&R Block.