Our income tax calculator is designed to set you up for success; so that you know what to expect and how to structure your finances to make the most of your refund or plan for an upcoming tax payment.
This is the most common filing status that applies to an unmarried person.
You may elect to file as MFJ depending on your marital status at the end of the year.
In some cases, it may be beneficial to file as MFS, especially as it relates to legal issues.
Filing as HoH is more beneficial than filing as single, but you must have borne more than 50% of the cost of maintaining a household and have a qualifying person living there (i.e. child, stepchild, fosterchild, adopted child).
If your spouse died during the tax year, you may be able to file as a Qualifying Widower, but there are other conditions that may apply. For a more detailed listing of those criteria, please click here.
Please enter the amount from box 1 of your W-2 here. Note, if you have more than one W-2, please add all the amounts in box 1 from all of your W-2s and input that number in this field.
Please enter the amount from box 2 of your W-2 here. Note, if you have more than one W-2, please add all the amounts in box 2 from all of your W-2s and input that number in this field.
Based on your inputs, using the standard deduction will yield the greatest tax benefit.
Since a refund takes much longer for paper filers, the IRS and tax professionals recommend electronic filing.
The Standard Deduction allows you a deduction even if you have no expenses that qualify for claiming itemized deductions.
Deductible taxes include state and local income tax or sales tax, property tax paid during, and any other mandatory tax charged.
The penalty for filing late is normally 5 percent of the unpaid taxes for each month or part of a month that a tax return is late.
To see more helpful tax resources, check out our Tax Tips