How the calculator works
- Taxable income: your pay, less the standard deduction ($16,100 single, $32,200 for joint returns and $24,150 for heads of household in 2026, plus more if you’re 65 or older). Then the new 2025–2028 deductions for tips, overtime and people 65 or older, if they apply.
- Tax: the 2026 federal tax brackets on your taxable income, less the child tax credit and the credit for other dependents. See the 2026 tax brackets.
- Credits paid to you: the additional child tax credit and the earned income credit can be paid even if you owe no tax. The child tax credit calculator and the EITC calculator show each one in detail.
- Refund or amount owed: the tax withheld plus those credits, less your tax. Your state return is worked out the same way, with your state’s own rules.
Refunds in common situations
The federal refund or bill for 2026, with pay as the only income and the standard deduction. Withholding is what an employer takes out on a W-4 with just the filing status filled in, plus the children in Step 3 where there are any:
| Situation | Tax for the year | Withheld | Result |
|---|---|---|---|
| Single, $40,000 | $2,620 | $2,620 | About even |
| Single, $75,000 | $7,670 | $7,670 | About even |
| Head of household, $50,000, 1 child | $293 | $548 | $255 refund |
| Married, one job of $100,000, 2 children | $3,240 | $3,240 | About even |
| Married, two jobs of $60,000 and $40,000, no Step 2 | $7,640 | $3,620 | $4,020 to pay |
With one job and a W-4 that matches your situation, the IRS withholding tables are designed to take out about the tax you'll owe, so the refund is small. Refundable credits, such as the earned income credit, come on top. When both spouses work, each employer withholds as if its job were the only one, so too little comes out unless Step 2 of the W-4 is used.
Why you get a refund, or owe
Your employer withholds tax from each paycheck as if that pay continued all year, using the W-4 you gave them. The difference between that and what you really owe is your refund or bill. Common reasons it’s off:
- Credits: the earned income credit and the additional child tax credit are paid when you file, so they come back as a refund.
- The new deductions: tips, overtime and the deduction for people 65 or older lower your tax, but your withholding usually doesn’t count them, so the saving comes back as a refund.
- Two jobs, or both spouses working: each employer withholds as if its job were the only one, so too little usually comes out.
- Income with no tax withheld: interest, investments or a side job can leave you owing. See quarterly estimated taxes.
- Starting or leaving a job partway through the year: paychecks are taxed as if you’d earned that much all year, so you often get some back.
Where to find your numbers
Everything comes from your W-2s (or your last pay stub of the year):
| What | W-2 box |
|---|---|
| Pay | Box 1 |
| Federal tax withheld | Box 2 |
| State tax withheld | Box 17 |
| Local tax withheld | Box 19 |
| Tips | Box 12, code TP (with your job’s code in box 14b) |
| Overtime premium | Box 12, code TT |
If you have more than one job, or you’re filing jointly, add up the boxes from every W-2.
When you’ll get it
File by April 15, 2027 for the 2026 tax year. The IRS says it issues most refunds in less than 21 days if you file electronically and choose direct deposit. If you claim the earned income credit or the additional child tax credit, it can’t send your refund before mid-February. Free help to file is listed on our free help page.
Getting a bigger refund, or owing less
A refund means you paid too much tax during the year. If you’d rather have the money in each paycheck, give your employer a new Form W-4: our W-4 calculator shows what to enter. If you owe, withholding a little more next year avoids a bill, and paying by April 15 avoids interest and penalties. Our paycheck calculator shows your tax per paycheck, and the year-end tax moves can still lower your 2026 tax.
What this calculator doesn’t include
It’s for wages only, with the standard deduction. Interest and dividends, investments, self-employment income (see our self-employment tax calculator), itemized deductions (see our standard vs itemized deduction calculator), education and child care credits, and state credits can change your result.