2020 Tax Return Estimator/Tax Withholding Calculator

Note: This 2020 Tax Return and Withholding Calculator is being updated as the IRS releases Tax Year 2020 data. Sign up now to obtain new 2020 Calculator updates.

Keep in mind that you have from now until the end of Tax Year 2020 (December 31, 2020) to adjust your Paycheck Withholding amounts, which will affect your 2020 Tax Return due in 2021. To adjust your withholding amounts, complete Form W-4 and submit it to your employer.

Of course, for long term planning, you can start now and reap the benefits of your Tax Withholding Adjustment for Tax Year 2020 on your Tax Return due in 2021.

Even though the 2020 W-4 Tax Withholding Calculator does not have the final 2020 tax calculation data, this is the best approach to balance your Taxes now. In order to accurately determine the right Tax Withholding amount for 2020, you must estimate your 2020 Tax Return now. This calculator will do that for you with the latest available IRS data. Once you have the estimated Tax Return results, we will help you with determining the proper withholding amount.

Fail to Plan could mean Plan to Fail. Don't let that happen to you. Keep more of your hard earned money.

2020 Tax Withholding and
Tax Return Calculator

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Do you have Dependents that you will claim on your Tax Return? This can include Children or Relatives, including Boyfriends/Girlfriends.

Not Sure? Ask the
DEPENDucator or RELucator.

Yes No

How many of your Dependents
qualify for the Child Tax Credit?

Not Sure? Ask the
KIDucator

How many qualify for the
Credit for Other Dependents?
Not Sure?

Enter your Adjusted Gross Paycheck Amount

Enter Extra Federal Tax Withholding per paycheck

Step 4c of the W-4

Enter the following Tax Payment amounts you made during Tax Year 2020. As a result, they will increase your Tax Refund or reduce your Taxes Owed.

Federal Taxes Withheld Through Your Paycheck(s)

Taxes You Paid When You Filed an IRS Tax Extension for a 2020 Tax Year Return

Yes No

Excess Social Security Taxes Withheld in 2020

Yes No

2019 Tax Year Tax Overpayments

Yes No

2020 Tax Year Tax Estimates

Yes No

You Have Successfully Completed Your
2020 IRS Income Tax Return Calculaton

Estimated Tax Refund

Estimated Taxes Owed

It looks like you are not getting a Tax Refund, nor will you owe additional Taxes.

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Your Estimated 2020 Tax Return Details

Filing Status

Dependents

Income

Adjustments to Income

AGI

Standard Deduction

Itemized Deductions

Taxable Income

Tax On Income

Other Taxes

Non-Refundable Credits

Payments / Refundable Credits

Your Estimated 2020 Tax Return Forms Needed
Based on the Information you entered on this 2019 Tax Calculator, you may need the following 2019 Tax Year IRS Tax Forms to complete your 2019 IRS Income Tax Return. State Forms are not listed here.

Form 1040 Version

Form 1040

Form 1040-SR

Supporting Schedules

Schedule 1
Additional Income and Adjustments to Income

Schedule 2
Additional Taxes

Schedule 3
Additional Credits and Payments

Income Forms

Form W-2
Wage and Tax Statement

Form 1099-INT
Interest Income

Form 1099-DIV
Dividends and Distributions

Form 1099-SSA
Social Security Benefits Statement

Form 1099-R
Distributions From Pensions, Annuities, Retirement or Profit-Sharing Plans, IRAs, Insurance Contracts, etc.

Form 1099-G
Certain Government Payments

Form 1099-MISC
Miscellaneous Income

Schedule B
Interest and Ordinary Dividends

Schedule C
Profit or Loss from Business (Sole Proprietorship)

Schedule D
Capital Gains and Losses

Schedule E
Supplemental Income and Loss

Schedule F
Profit or Loss from Farming

Other Types of Income
[[Link to Taxable Income Page]]

Deduction Forms

Schedule 8812
Qualified Business Income Deduction

Schedule A
Itemized Deductions

Form 8283
Noncash Charitable Contributions

Form 1098-E
Student Loan Interest Statement

Form 1098
Mortgage Interest Statement

Form 4952
Investment Interest Expense Deduction

Form 8889
Health Savings Accounts (HSAs)

Form 4684
Casualties and Thefts

Form 3903
Moving Expenses

Form 2106
Employee Business Expenses

Forms for Additional Taxes

Schedule SE
Self Employment Tax

Form 6251
Alternative Minimum Tax

Form 5405
Repayment of the First-Time Homebuyer Credit

Form 8919
Uncollected Social Security and Medicare Tax on Wages

Form 5329
Additional Taxes on Qualified Plans (Including IRAs) and Other Tax-Favored Accounts

Form 8962
Premium Tax Credit (PTC)

Schedule H
Household Employment Taxes

Form 8959
Additional Medicare Tax

Form 8960
Net Investment Income Tax—Individuals, Estates, and Trusts

Credits Forms

Form 1040 Schedule 8812
Child Tax Credit

Form 1040 Schedule EIC
Earned Income Tax Credit

Form 2441
Child and Dependent Care Expenses

Form 8863
Education Credits

Form 8962
Premium Tax Credit (PTC)

Form 8880
Credit for Qualified Retirement Savings Contributions

Form 5695
Residential Energy Credit

Form 1116
Foreign Tax Credit

Your Estimated Federal Tax Withheld
From Each Paycheck:

This estimated withholding amount is 13.0% of your pay period income.

Your Estimated Medicare Tax Withheld
From Each Paycheck:

Your Estimated Social Security Tax Withheld
From Each Paycheck:

At this point you are Tax Balanced. As a result, you don't need to make adjustments to your W-4(s).

Continue if you wish to make adjustments to your Tax Withholding on your W-4 and see how this would affect your Paycheck(s) and your 2020 Tax Return.

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W-4 and Tax Withholding Resources

Tax Withholding, W-4

Tips, Considerations, Actions

W-4 Taxometer, Planning

Use the eFile.com Taxometer for an easy to understand W-4 planning approach.

What is a W-4?

Click on this link and get a good understanding what this W-4 is all about. If you never completed a W-4, you came to the right place. If you struggled with this W-4 worksheet in previous years or don't like dealing with this Tax Withholding stuff, you are in good hands.

Fail to Plan, Is Plan to Fail

We give you step-by-step tips, considerations, and action items for you to follow throughout the tax year.

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