How much of a refund will you get this year from the IRS? Estimating your tax refund before you file your taxes can really help with financial planning. The good news is that you can estimate your refund for free online with a number of calculators. So, which tax refund estimator should you use? There are 7 federal income tax brackets currently ranging from 10-37% and how much you pay depends on your taxable income and filing status. However, all of your income is likely not taxed at one single bracket rate. That’s because federal income is taxed in chunks as you ascend up the tax brackets, making the math a little complex. Unemployment numbers show that a lot of people lost their jobs last year. This means that a lot of people need to know exactly what they need to file their taxes during this difficult time. If your tax situation is simple or you are in the military, you may even be able to file free with TurboTax or H&R Block Free Edition.
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