Tax Estimator, Tax Estimate
To help you make important financial and tax planning decisions, we recommend that
you estimate, throughout the tax year, the taxes you might owe or your expected
refund.
The eFile tax calculator tools are intended to provide you with valuable preliminary
information that can assist you in making sound investment or other finance related
personal choices.
For example, before you make decisions on how to finance important purchases (e.g.,
car or home purchases, home mortgage refinancing, student loan applications, etc.),
use one of the free tax estimator tools. The tax calculator is based on the IRS
1040, 1040A, and 1040EZ federal income tax forms, making it applicable to users
of all these forms.
The tax calculator looks like a regular IRS income tax form and lets you enter your
actual or estimated income, dependent, deduction, and tax credit information. There
is no need to enter sensitive personnel information such as your name or Social
Security Number.
You do not need in-depth tax knowledge to use the tax calculator. The tax calculator
or tax estimator does not store any information and is not intended to manually
file (mail in) or electronically file (efile) your tax return with the Internal
Revenue Service.
As soon as you have entered the most important tax information, the tax calculator
will provide you with a tax estimate.
The eFile tax estimator is a self-educator tool for your independent assistance.
This tax software tool is based on tax year related IRS published tax income rates
and tax tables and shows you how your federal income taxes might be affected should
your income or tax bracket change. It also helps you plan for, or anticipate, other
finance-changing events such as a new job, marriage, divorce, home purchase, additional
education, mortgage refinancing, additional dependents (e.g., children), and so
on.
Tax Tip: Please visit the
eFile tax deduction page, where you will find a high level overview of different
deductions that might apply to you.
Tax Tools
Tax Year 2008
Note: Even though the tax tables for Tax Year 2008 have not been
released, the 2007 tax calculator is currently the best source to estimate your
taxes for the current tax year. Start now and enter the estimated values for 2008;
the tax calculator is good for Form 1040, 1040A, and 1040EZ.
Tax Year 2007