How do you calculate your approximate tax return?

Answer by  Dean (4035)

Go to the IRS site and do some quick math if you plan to file a short form. Start with your gross income, take the allowable deductions, and note how much federal income taxes were withheld. Consult the IRS chart for your income bracket to see if what you paid exceeds what you owe for the year. That's your refund.

Answer by  Christian9247 (5042)

You compute your income and withholdings on the equation lines on the form and use the figures from the tables in the booklet and input their figures and then solve the equation. There is then a number you subtract from the final number and this should be your actual tax return.

Answer by  Att4372 (1704)

For most people, add up your income, subtract the standard deduction, and subtract a personal exemption for each person claimed on the return. The balance is taxable income (TI). Find your TI on the tax table and read the amount due. The IRS uses this method to determine withholding. You might owe less if you have credits or extra deductions.

Answer by  technogeek (6640)

The basic computations would be inputting your income and withholdings on the form and then by using the figures from the tables in the booklet to input their figure.