How to Calculate Tax Rebate

Tax rebates, also referred to as tax refunds, are sent to tax payers who qualify for a refund through a refundable tax credits or if they have withheld more from their paycheck than they owe in taxes. Your tax refund will be sent to you in the form of a check, directly deposited in your bank account, or applied to next year's taxes within a couple months after you file your taxes with the IRS. The easiest way to calculate your tax refund is to use a tax refund calculator.

Difficulty: Moderately Easy

Instructions

Things You'll Need:

• Internet or tax computer program

1. Gather all the information you need to file your taxes. This information includes your total income, capital gains, dividend earnings, personal property tax payments, alimony payments, medical expenses and other documents required for filing your taxes. This information will need to be documented on forms, including a W-2 from your employer, retirement plan statements and unemployment compensation statement.

2. Prepare your taxes to get your total numbers. You will need this information before you can calculate your tax refund. You can use a computer program such as Turbo Tax or Kiplinger TaxCut to help you prepare your taxes for filing, but more than one of these programs is not necessary.

3. Choose a tax refund calculator by clicking on a link under "References" at the bottom of this page. Each tax refund calculator will ask you to input information you gathered in Step 1 and 2. You will find your result after you have filled in all questions that apply to you.

References

• Credit FYI: Tax Refund Calculator
• Tax Brain: Tax Refund Calculator