Tax season can be a painful time for taxpayers. This is because they never know if they are going to have to pay the IRS money or get a much needed refund. If you have a job in the U.S. you are going to have to pay taxes. However, if you overpay, you will receive a refund back for your overpaid taxes. The good news is with the TurboTax tax refund calculator you do not have to wait until the 2016 tax season to know whether or not you are getting money back, you can get a free estimate any time of the year on your 2015 refund.
It’s easy to use
With the online tax software that is available today you can find out with ease whether or not you are going to be receiving a refund back. The best part is it will show you approximately how much you will be getting back from Uncle Sam. The software is not only accurate but it is also 100% free. If you use the TurboTax refund calculator you will be using one of the best. They have earned the reputation of being the “Best Tax Refund Calculator”. All you have to do is go to TurboTax to use it.
How to get started
To begin using the calculator you will enter some personal information such as your marital status, age, and filing status. Once you enter this you will be directed to enter your wages, federal withholding, state withholding, and unemployment income. After you have done this you will be able to see your calculations on the side of the page. You will then be able to move on to enter your spouse’s income – if applicable - and any other income that you have received throughout the year. As you enter this information you will see your calculations being adjusted.
Thanks to the tax refund calculators for 2016 you will not have to worry about whether or not you will be paying or receiving money at the end of the year. Instead you will know exactly what is going to happen so you do not end up with a surprise bill. The calculator will give you an estimate very quickly what your tax refund is going to be.
Tips to jumpstart your tax refund
- Receive your tax refund quickly with an Online W-2 form finder – Even if your W-2 has not arrived yet, with the assistance of the form finder you can get started on your tax return now, which means you will receive your tax refund faster. Import your W-2 electronically from your employer so you can file your taxes as soon as possible.
- Try the free tax refund calculator and see how much your refund will be in advance. The calculator takes only take a few minutes and will give you an estimate of your tax refund amount.
- Remember what you did in 2015 - The little things that you did could lead to a big tax deduction. For example, you will want to remember the expenses that you incurred when you were searching for a new job, medical expenses you paid, charitable donations, and the money that you spent for your kids summer camp. All you need is your receipts and you are good to go.
- Remain organized – Before filing, your taxes make sure that you have everything that you need to file your taxes. Online tax software will ask you questions but having all of the documents ready before you start will make the tax filing process quicker and easier.
- Have a folder available – When your tax documents do come in the mail make sure that, you have a folder available to keep them organized.
- Check your social security numbers – When entering your social security numbers into the forms make sure that you double check that they have been entered correctly. If you enter any social security numbers in incorrectly, they could cause you to miss deductions and credits that you qualify for.
- Make sure you claim all of your available tax deductions – Despite the fact that we are almost into 2016 you can still contribute to your IRA, which will increase your tax refund. You can do so up until the day you file your taxes to make your taxes lower.
- Do not procrastinate – Last year approximately 75% of tax payers received a refund that was close to $3,000, which means you have no reason to procrastinate on filing your taxes.
- File Online– There are a variety of tools available to make sure that your tax return is accurate. You can even ask tax questions through their platform too.
- They Answer Your Questions – If you find yourself needing assistance while preparing your taxes you can phone them or chat in real time to get your tax questions answered by professionals.
- They Know the Answers to Your Health Care Questions – If you need to know whether the health care law will affect your taxes, Turbo Tax Health can help you.
- File Your Taxes on any Device – TurboTax has a mobile app that allows you to file your taxes on any device that has an internet connection. We do recommend double-checking the information on the computer before submitting your taxes though.
- Track Your Charitable Contributions – With the assistance of Turbo Tax ItsDeductible, you have the ability to track and value your charitable donations.
- Stay Up to Date on Your Tax Refund – When you have e-filed, your return through Turbo Tax you have the ability to check your tax status and your tax refund status.
TurboTax is your solution to filing your taxes as easily as possible and making sure that you receive your largest tax refund possible. TurboTax works like an interview—we ask you easy-to-answer questions about your life (Are you married? Do you have kids?) and fill in all the right tax forms behind the scenes. Your answers tell us which deductions and credits to look for, and what to ask next. If you're ever unsure about how to answer a question, we have experts ready to help.