Estimating your taxes online to find out how much you owe the Internal Revenue Service can be done using free tools available on various websites. The most convenient tool is a free tax calculator that you can use to estimate how much you may owe or can expect to get back on your taxes. These tax calculators are simple to use and merely require you to enter information in the correct fields.
Open a Web browser and navigate to any website that offers a free online tax calculator. Several popular tax sites are listed in the Resources section of this article. The following example uses the tax calculator on the 1040.com website to find out how much you owe the IRS.
Select your filing status from the "Filing Status" drop-down menu. The most common filing status is "Single" or "Married filing jointly."
Enter the number or dependents that you are going to claim, if any.
Leave the next option set at "none" unless you or your spouse is being claimed as a dependent on the tax return of another person (such as a parent).
Enter your date of birth, W-2 gross income, W-2 withholding, interest/dividends, and other applicable income or deductions you will claim on your taxes.
Enter your spouse's date of birth, if married. Enter the W-2 gross income, W-2 withholding, interest/dividends and other applicable income or deductions for your spouse.
Click the "Calculate" button to see how much you will owe the IRS or the estimated refund you will receive.
Click the "Reset" button to start over.
Things You Will Need
- Pay stubs
- Brokerage statements
- Bank statements
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