TurboTax has created a handy tax refund calculator that will allow you to know how much you can expect to receive back before you file your tax return. Even if you do not use TurboTax to file your tax return you can still use the tax calculator for free.
The best part is while the calculator is coming up with your totals there is a meter, located on the right, which calculates your total as you are adding in information. This way you can know what is affecting your refund or amount due.
Then, once all of your information has been entered, the calculator will give you a total of how much of a refund you can expect or how much you can expect to pay in taxes.
When to expect your refund
Do you want to know when you will get your refund back? If so, all you have to do is check the IRS refund schedule so you can be aware of when to expect your funds from the IRS. If you have asked to have your money deposited in your bank account you can possibly receive your refund in as soon as a week after your tax return has been received by the IRS. However, if you decided to get your refund back in the form of a paper check it can take a little longer for you to receive the funds
Overall, once you file your taxes you are going to have to wait to receive your IRS refund if you were eligible for one. However, the IRS refund schedule can help you estimate approximately when your tax refund should be expected to make the waiting game a little easier for you. If you have questions about filing taxes or the deductions that you are eligible for feel free to consult with a tax expert.