Estimate your federal income tax refund or amount owed for 2025 or 2026, with current brackets, deductions and credits. Mainly for U.S. taxpayers.
The calculator adds up your income, takes off adjustments such as IRA contributions and half of any self-employment tax, and arrives at adjusted gross income. It then subtracts the larger of the standard deduction or your itemized deductions, plus the new tips, overtime, car loan interest and senior deductions where they apply, to reach taxable income. Ordinary income is taxed through the seven brackets, while qualified dividends and long-term gains are taxed at 0%, 15% or 20% on top of it. Credits and what you have already paid, through withholding and estimated payments, then give your refund or balance due.
Itemized deductions include mortgage interest, charitable gifts, real estate tax and an estimate of state and local income tax, with the state and local total capped at $40,000 for 2025 and $40,400 for 2026. Credits include the child tax credit with its refundable part, a credit for other dependents, the child and dependent care credit, the American Opportunity education credit and the earned income credit. Social Security benefits are taxed on up to 85% depending on your other income, and the 3.8% net investment income tax, additional Medicare tax and alternative minimum tax are included for higher earners.
The One Big Beautiful Bill Act raised the standard deduction to $15,750 for single filers and $31,500 for joint filers in 2025, and added temporary deductions for tips, overtime and car loan interest. People 65 and older get an extra $6,000 deduction each, which shrinks as income rises. Starting in 2026, taxpayers who do not itemize can deduct up to $1,000 of cash gifts to charity, or $2,000 on a joint return, and those who itemize can deduct charity only above 0.5% of their income.
It uses U.S. federal rules for tax years 2025 and 2026, including the changes from the One Big Beautiful Bill Act: larger standard deductions, a $40,000 cap on the state and local tax deduction, new deductions for tips, overtime, car loan interest and seniors, and a $2,200 child tax credit.
No. It estimates only your federal return. The state and local tax rate you enter is used just to estimate how much state tax you could deduct if you itemize.
Enter your qualified tips and the extra half-time premium part of your overtime pay. The tips deduction is capped at $25,000 and the overtime deduction at $12,500, or $25,000 on a joint return. Both shrink by $100 for every $1,000 of income above $150,000, or $300,000 on a joint return.
Tax calculators make different assumptions, and some use older or simplified rules. This one applies phase-outs, the refundable limit on the child tax credit and the current state and local tax cap as written in the tax code. Small differences in what counts as income or how a credit is limited can change the result, and only a tax professional or the IRS can give a final answer.
Self-employment tax is 15.3% on 92.35% of your net business income, split between Social Security and Medicare, and half of it is deductible. The calculator also takes the 20% qualified business income deduction, simplified for higher incomes.
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