U.S. Easy Tax Estimator
This is a simplified tax calculator if you don't need to all of the complexity of the full 1040 tax form. Simply select your tax filing status and enter a few other details to estimate your total taxes. Based on your projected tax withholding for the year, we then show you your refund or the amount you may owe the IRS next April.
U.S. Easy Tax Estimator Definitions
- Federal Income Tax Rates:
- Filing status
- The most commonly used options are "Married Filing Joinly" and "Single". The "Filing Status" table summarizes the five possible filing status choices. It is important to understand that your marital status as of the last day of the year determines your filing status.
Filing Status Married Filing Jointly If you are married, you are able to file a joint return with your spouse. If your spouse died during the tax year, you are still able to file a joint return for that year. You may also choose to file separately under the status "Married Filing Separately". Qualified Widow(er) Generally, you qualify for this status for two years after the year of your spouse's death, as long as you and your spouse filed a joint tax return in the year immediately prior to their death. You are also required to have at least one dependent child or stepchild for whom you are the primary provider. Single If you are divorced, legally separated or unmarried as of the last day of the year you should use this status. Head of Household This is the status for unmarried individuals that pay for more than half of the cost to keep up a home. This home needs to be the main home for the income tax filer and at least one qualifying relative. You can also choose this status if you are married, but didn't live with your spouse at any time during the last six months of the year. You also need to provide more than half of the cost to keep up your home and have at least one dependent child living with you. Married Filing Separately If you are married, you have the choice to file separate returns. The filing status for this option is "Married Filing Separately".
- Dependent status
- A dependent is someone you support and for whom you can claim a dependency exemption. In this case, you need to select the dependent status for you and your spouse.
- Wages, salaries, tips, etc.
- Total income you received from wages, salaries and tips. The this calculator does not support other types of income. If you have income from other sources you may need to use the 1040 Tax Form.
- Unemployment compensation
- If you collected any unemployment compensation, it is considered taxable income. Enter the total amount received here.
- Taxable interest
- If you received any interest that is subject to income taxes, enter the total amount received here.
- Standard deduction
- Your standard deduction is used to reduce your taxable income if you do not use Schedule A to itemize your deductions, or if your Schedule A itemized deduction is less than your standard deduction. Your standard deduction is based on your filing status. For 2021, the standard deductions are: **STANDARDDEDUCTION_TAXYEAR_DEFINITION**
- Gifts to charity
- Enter cash donations (check, credit card, actual cash) to qualified charitable organizations. The calculator will automatically include a charitable contribution deduction of up to $300 along with the standard deduction. This is a new deduction for 2021, made available as part of the CARES act.
- Taxable income
- This is your total taxable income. It is calculated as your total income minus your standard deduction and your deduction for exemptions.
- Earned income credit
- If you qualify for earned income credit, we will automatically calculate the amount. Please note that this calculator doesn't take into consideration the impact of scholarships, penal income and retirement income on your Earned Income Credit (EIC).
- Federal income tax withheld
- Enter the total of all federal income tax that you expect to have withheld from your pay throughout the year. We will use this amount to calculate your total refund or amount you may owe.