If you are wondering how much your tax refund wil be, we suggest trying an online income tax refund estimator. This estimator will show how much you how much money you will get back from the government or how much you might have to pay.

If you are claiming too many exemptions during the year then you will end up paying at the end of the year. If you are taking less exemptions then more than likely you will receive a refund from the government.

What will you need?

When you use a tax estimator, you will need to have the following information:

• Amount of exemptions

• Income

• Adjustments

• Adjusted gross income

• Total credits

• Any other taxes that you would pay

• Any tax payments that you have made throughout the year

• Filing status

The tax estimator will show you how much tax you owe throughout the year and what tax bracket you will be placed based on your income. So if you are taking the correct amount of exemptions throughout the year then you should be in good shape.

You may be surprised this year more than ever at the amount of tax deductions and credits available to you. This is due to the new economic stimulus act. There are many other tax calculators available as well. Such as the AMT calculator, daycare tax estimator, self-employment estimator, and even an education tax benefit estimator.

TurboTax Online offers free income tax estimators and tax calculators. Visit TurboTax Online to give one a try.