How to use the Income Tax Calculator
Estimate U.S. federal income tax, entered state and local tax, and a refund or balance due for tax years 2024–2026. Use it as a planning baseline, then compare the estimate with current rates, fees, taxes, and provider terms.
Step by step
- For the Income Tax example, select Income Tax and enter filing status, qualifying children, other dependents, tax year, wages, tips, other compensation, and the remaining settings listed in the worked example. Keep each value in the unit displayed beside its field.
- Review the selected Income Tax workflow and inputs, then read estimated refund in the result panel.
- Change one Income Tax assumption at a time to compare scenarios. Use Reset to restore this tool's worked example values.
How the calculation works
Uses IRS 2024–2026 ordinary-income rate schedules and standard deductions for single or married-filing-jointly returns. This planning estimate does not prepare a return; eligibility, phaseouts, preferential capital-gain rates, Social Security taxation, deduction limits, additional taxes, and state/local rules can change the result. Qualified dividends and long-term gains are conservatively included as ordinary income; potential deductions and credits shown in the form are not automatically claimed because eligibility and limits require facts this estimator does not collect.
Worked example
To reproduce the Income Tax worked example, reset the calculator. Select the Income Tax workflow. Use filing status Single; qualifying children 0; other dependents 0; tax year 2026; wages, tips, other compensation $85,000; federal income tax withheld $12,000; state income tax withheld $4,000; local income tax withheld $1,000; business income $0; estimated tax paid $0; social security income $0; interest income $0; ordinary dividends $0; long-term capital gains $0; other income $0; state+local tax rate 5 %; ira contributions $0; mortgage interest $0; charitable donations $0; student loan interest $0; other deductibles $0; medicare wages $0; qualified dividends $0; passive incomes $0; short-term capital gains $0; tips income $0; overtime income $0; car loan interest $0; real estate tax $0; child & dependent care expense $0; college education expense $0; college education expense 2 $0; college education expense 3 $0; college education expense 4 $0. The result is estimated refund of $3,685.00. Tax year 2026. Review the displayed units before comparing the result.
Understanding the result
The Income Tax reports estimated refund. Use it as a planning baseline, then compare the estimate with current rates, fees, taxes, and provider terms. U.S. federal planning estimate only. It does not prepare a return or model every deduction, credit, additional tax, preferential rate, or state rule.
How to check the answer
Check the Income Tax result by entering the same filing status, qualifying children, other dependents in an independent statement, lender, provider, or official tool. Change one input and confirm that estimated refund moves in the direction implied by Uses IRS 2024–2026 ordinary-income rate schedules and standard deductions for single or married-filing-jointly returns. This planning estimate does not prepare a return; eligibility, phaseouts, preferential capital-gain rates, Social Security taxation, deduction limits, additional taxes, and state/local rules can change the result. Qualified dividends and long-term gains are conservatively included as ordinary income; potential deductions and credits shown in the form are not automatically claimed because eligibility and limits require facts this estimator does not collect.
Common questions
What does the Income Tax calculate?
Estimate U.S. federal income tax, entered state and local tax, and a refund or balance due for tax years 2024–2026.
Which inputs does the Income Tax example use?
The worked example uses filing status, qualifying children, other dependents, tax year, wages, tips, other compensation, and the remaining settings listed in the worked example in the Income Tax workflow. Other workflows can show different fields. Keep the chosen workflow and units with the result when comparing calculations.
Is the Income Tax result exact?
U.S. federal planning estimate only. It does not prepare a return or model every deduction, credit, additional tax, preferential rate, or state rule. Recheck filing status, qualifying children, other dependents and use estimated refund only for a decision where that level of precision is appropriate.