Tax Refund Estimator
Estimate your 2025 federal tax refund or amount owed in minutes. Works for W-2 employees, freelancers, and anyone with self-employment income.
Box 1 of your W-2
Schedule C net profit (after expenses)
Interest, dividends, capital gains, etc.
$2,000 Child Tax Credit per qualifying child under 17
Box 2 of your W-2 (total from all W-2s)
Quarterly estimated payments (Form 1040-ES) already sent to IRS
Enter your income to see results
Your estimated refund or amount owed will appear here.
How This Tax Refund Estimator Works
This calculator estimates your federal tax liability for the 2025 tax year using the IRS tax brackets from Rev. Proc. 2024-40. It accounts for W-2 wages, self-employment income, the self-employment tax deduction, standard or itemized deductions, and the child tax credit.
Your estimated refund (or amount owed) is simply the difference between what you have already paid through withholding and estimated payments versus your total calculated tax liability.
2025 Standard Deductions
| Filing Status | Standard Deduction |
|---|---|
| Single | $15,750 |
| Married Filing Jointly | $31,500 |
| Married Filing Separately | $15,750 |
| Head of Household | $23,625 |
Understanding Your Results
- Effective tax rate is your total tax divided by total income. It reflects the actual percentage of your income that goes to federal taxes.
- Marginal tax rate is the rate on your last dollar of taxable income. Additional income will be taxed at this rate.
- Self-employment tax is separate from income tax. If you have Schedule C income, you owe 15.3% (Social Security + Medicare) on 92.35% of net profit. Half of this is deductible.
- Child Tax Credit provides up to $2,000 per qualifying child under 17. It phases out at $200,000 AGI (single) or $400,000 (married filing jointly).
Disclaimer
Federal estimates only. State taxes are not included.
This calculator provides estimates based on 2025 IRS tax rates and rules. It is for informational purposes only and does not constitute tax advice. It does not cover AMT, NIIT, state taxes, or all credits. Consult a qualified tax professional for your specific situation.