Live tool
Tax
Tax Refund & Balance Due Estimator
Compare your total annual income tax liability against taxes withheld to calculate your expected tax refund.
Inputs
Gross annual earnings
Calculated annual tax
Payroll tax withheld
Results
Estimated Tax Settlement
—
Filing status—
Total calculated tax obligation—
Pre-paid withheld taxes—
Gross income base—
Refund = Tax Withheld − Tax Liability. If positive, you are owed a refund. If negative, tax is due.
How this calculator works
Estimates expected tax refund or balance due by comparing total paycheck tax withholdings and eligible tax credits against total calculated income tax liability.
Formula
Refund or Balance Owed = (W-2 Tax Withheld + Estimated Payments + Tax Credits) - Total Annual Tax Liability
Worked Example
Calculated annual tax liability = $7,200. Total employer W-2 withholdings = $8,500. Child tax credit = $1,000. Refund = $8,500 + $1,000 - $7,200 = $2,300 refund.
Assumptions
- Paycheck withholdings and estimated tax payments match official tax form records.
- Filing status and dependent credit eligibility meet statutory requirements.
Limitations
- Subject to IRS annual inflation adjustments, tax credit income phase-out thresholds, and Alternative Minimum Tax (AMT) rules.
Disclaimer: Educational estimate only. Final tax refunds depend on official tax returns. See our Disclaimer.