Estimate Your 2023-2024 Tax Refund
2023-2024 Tax Refund Calculator
Set yourself up for success with our free tax return calculator.
How to fill out the tax refund calculator
Our tax refund calculator takes the guesswork out of trying to figure out your refund amount. Simply answer a few questions about your filing status and claim any dependents you might have. Next, enter your 2023 federal and state withholding information along with your total income (including any losses).
You’ll then move on to deductions and credits. Enter any amounts paid or contributions made for the year. You can keep $0 for any that don’t apply to your situation, and we’ll calculate your estimated tax breaks for the year!
We will do the hard work for you, using the information you provide to give you the most accurate calculation of your estimated refund!
Estimate your federal tax refund for free today!
Wondering what to expect when you file your taxes in 2024? Use our tax refund calculator to get your estimated tax refund or an idea of what you’ll owe. Rest assured that our calculations are up to date with current tax brackets and tax law changes to give you the most accurate estimate. Enter your information for the year and let us do the rest!
How the MyTaxCuts refund calculator works
The calculator accounts for your filing status, number of dependents, income, and all credits and deductions you qualify for based on your responses when calculating your estimated refund. Using the information you provide, we’ll calculate your taxable income and expected tax liability or refund amount – factoring
in taxes that already been withheld and any tax breaks that may impact these amounts. The result is your estimated tax refund!
Tax Refund Calculator
Frequently asked questions about estimating your tax refund
Have more questions about how our tax refund calculator works? We’ve addressed some common questions about estimating your tax refund below.
Will I get a 2023 tax refund?
Typically, you receive a tax refund after filing your federal tax return if you pay more tax during the year than you actually owe. This most commonly occurs if too much is withheld from your paychecks. Another scenario that could result in a refund is if you receive a refundable tax credit that is larger than the amount you owe. Events, tax law changes, and many other factors change your taxes from year to year. Use our tax refund calculator to find out if you can expect a refund for 2023 (taxes filed in 2024).
Understanding your tax calculator results
While the calculator provides helpful estimates, it’s important to note that your actual refund might vary due to differences in the values entered compared to
your final tax return. If you owe taxes, double-check the values entered on your tax return to rule out any potential filing errors.
Benefits of using a tax refund estimator
Estimating your refund is a proactive step that empowers you to plan ahead to help determine how you’ll spend your tax refund. Knowing the approximate amount allows you to make informed decisions on budgeting, savings, or any specific expenses you intend to cover with your tax refund. Using our tax refund calculator is risk-free and has no impact on your actual refund. Get started now!
Is my income taxable?
Most types of income are taxable. You will enter wages, withholdings, Social Security benefits, interest, dividends, and more in the income section so we can determine your 2023 tax bracket and calculate your AGI. This amount minus your deductions is used to calculate your taxable income.
What is my filing status?
It depends – the filing statuses are single, married filing jointly, married filing separately, head of household, and qualifying widow(er). If you support a child or relative, they may qualify as your dependent. There are different requirements for qualifying children and qualifying relatives, but both types of dependents must be a U.S. citizen, U.S. national, or U.S. resident alien. You must be the only taxpayer claiming them, and they must be filing single or married filing separately if they’re required to file their own return.