Tax Refund Estimator
Get a rough estimate of your federal tax refund or amount owed from your income, withholding and filing status.
How it works
Taxable income = income − pretax deductions − standard deduction · Refund = tax withheld − tax owed (2024 brackets)
This estimate subtracts your pretax deductions and the 2024 standard deduction from your income to get taxable income, then applies the 2024 federal brackets for your filing status. Comparing that tax with what your employer already withheld gives a rough refund (if you overpaid) or balance due (if you underpaid). It is federal-only and deliberately simplified — it ignores tax credits, itemized deductions, other income and state tax.
Worked example
A single filer earning $60,000 with no pretax deductions has $45,400 of taxable income after the $14,600 standard deduction. The 2024 brackets put the federal tax near $5,216; against $6,000 withheld, that is roughly a $784 refund.
Frequently asked questions
Why is my real refund different?
This estimate leaves out tax credits (like the child or earned-income credit), itemized deductions, capital gains, self-employment tax and state taxes — any of which can move the number substantially. Treat it as a ballpark, not a filing figure.
Is a big refund a good thing?
Not really. A refund means you lent the government money interest-free all year. Adjusting your W-4 so less is withheld puts that cash in each paycheck instead — useful if you would rather save or invest it during the year.
What does the standard deduction do?
It reduces your taxable income by a flat amount before tax is calculated — $14,600 single or $29,200 married filing jointly for 2024. Most filers take it rather than itemizing, because it is larger than their itemizable expenses.
Related calculators
This is a very rough, educational federal-only estimate — not tax advice. It uses simplified rules and ignores state and local taxes, credits, the net investment income tax, and the specifics of your situation. Confirm any figures with a tax professional or the IRS.