How big do I party in April?

November 5, 2007 4:10 PM

TaxFilter: What is the most reliable withholding/refund calculator out there?

I've Googled for refund calculators and found 1 million and 1, but each seems to give me different results. The questions asked seem to vary widely, and I don't trust any of the results since I'm getting answers from "you will pay $200," to "you will receive a refund of $3,500!" I don't think any of these are even close to correct. So whose calculator do I trust?

I'm in the US.

posted by AthenaPolias to work & money (6 comments total)

Well, TurboTax online will give you as close to 100% accuracy as you can get. Of course it will take a little bit to fill stuff in, but since it lets you skip parts and shows you a live running tally of your refund, you should be able to figure it out pretty quick - just fake your W-2 info and tell it which deductions you're taking.

And since they don't charge you for using it until you file electronically, it's free too.
posted by chundo at 4:25 PM on November 5, 2007

Your accountant.
posted by jeffamaphone at 4:32 PM on November 5, 2007

There is no black art behind refunds and Federal Withholdings, so most any reputable program is going to get it right.

That said, try the IRS's calculator.
posted by Weebot at 4:35 PM on November 5, 2007

I used turbotax for my taxes last year and if i remember correctly it was either exactly right or with $10
posted by DJWeezy at 7:35 AM on November 6, 2007

Well, I've found that most of these calculators did not accurately estimate AMT, so you may take a hit there...
posted by Arthur Dent at 11:00 AM on November 6, 2007

If you are 90% of the population and have a regular job, and no weird incomes or deductions, just use the IRS calculator and be sure to also visit your state and use their calculator.

If you are too complicated for the IRS calculator, then you should have a CPA anyway IMO.
posted by Mozzie at 1:32 PM on November 7, 2007