Free tool
Refund & Balance-Due Estimator
What your federal return is likely to come out at, and — just as usefully — which parts of it this cannot see.
Every step of the return is shown, not just the number at the end: what your income comes to, what the deduction takes off it, what the tax on the rest is, and what the credits and your withholding do to that. A refund figure with no working behind it tells you nothing you can act on.
It also says what it does not know. Most refund calculators quietly assume an ordinary return and produce a confident number anyway; the list underneath this one is the list of things that would change your answer.
Your income
Box 1 of your W-2, for everyone on the return. Already after 401(k) and pre-tax health premiums.
Box 2 of your W-2. Federal income tax only — not Social Security or Medicare.
Business or 1099 income minus expenses. Leave blank if you have none.
Interest, ordinary dividends, rents, retirement income, unemployment.
Anything you sent the IRS toward this year yourself.
Deductions and dependants
Up to $2,200 each, and partly refundable.
$500 each. Not refundable.
Mortgage interest, state and local taxes, charitable gifts, large medical costs. Leave blank unless the total is over $16,100 — most people’s is not.
How the return works out
The standard deduction for 2026. Itemising only helps above this.
Top rate 12% — that applies to your last dollar, not to all of it.
Withholding plus any estimated payments.
An estimate, not a filed return. If it is large, that is your own money coming back after a year — worth checking your W-4 with the withholding calculator.
2026 federal rates and brackets. Effective rate on total income: 8.2%. South Carolina tax is separate and not included.
What this does not include
This models an ordinary federal return — wages, business profit, ordinary income, the standard or itemised deduction, self-employment tax and the child and dependant credits. Returns are ordinary far less often than people expect, and everything below is left out.
- The Earned Income Tax Credit. Worth up to $8,231 and refundable. It is excluded because it depends on details this page does not ask for, and for a household that qualifies it can be worth more than everything else on the return. Ask us to check it.
- South Carolina income tax. Federal only here. Your state refund or balance is a separate calculation.
- Capital gains and qualified dividends, which are taxed at their own rates. Entering them as other income overstates the tax on them.
- The QBI deduction on business profit, which is often substantial and is not modelled.
- Education, childcare, energy and retirement-saver credits, and the deductions for student loan interest and educator expenses.
- Anything unusual. Multiple states, rental depreciation, stock compensation, a marketplace health plan, a year you married, divorced, had a child or sold a home. Any one of them can move the answer by more than everything above it.
This is an estimate, not a tax return. It is a projection from the figures you entered, using published federal rates for the tax year shown. It is not a completed or filed return, it is not professional tax advice, and it does not create a client relationship. Your actual liability depends on your full circumstances and on documents this page never sees. Before acting on a number here — changing your withholding, setting an estimated payment, spending a refund — have it checked against your real situation. Call (864) 781-4035 or book a free consultation.
A refund is not a gain
A refund is the difference between what was withheld from you during the year and what you actually owed. Getting one back means too much was taken. Owing means too little was.
Neither is inherently better, but a large refund is worth noticing. It is money you earned months ago, held without interest, and returned to you in one lump in the spring. People plan around it — and the plan works — but it is worth knowing that the alternative was having it in each paycheck all year.
The one thing that genuinely is a gain is a refundable credit, because that is money paid to you over and above the tax you owed. The Child Tax Credit is partly refundable and the Earned Income Tax Credit is fully so. Those are the two worth getting right.
Why your bracket is not your tax rate
Being "in the 22% bracket" does not mean 22% of your income goes in tax. The brackets are slices: the first slice of taxable income is taxed at 10%, the next at 12%, and so on. Only the part above each threshold is taxed at the higher rate.
That is why the calculator shows an effective rate as well as a top rate, and the effective rate is almost always much lower. It is also why a raise that "puts you in the next bracket" never leaves you with less money — only the dollars above the threshold are taxed higher.
What most often makes the estimate wrong
In practice, four things. The first is the Earned Income Tax Credit, which is not modelled here and for a qualifying household can be worth thousands.
The second is business profit that has not had its expenses properly captured — the profit figure entered is too high, so the tax is too high. The third is investment income entered as ordinary income, which overstates the tax because capital gains and qualified dividends are taxed on their own lower scale.
The fourth is a life event. Marriage, divorce, a birth, a house sale, a move between states, a year with a marketplace health plan — each of these changes the shape of the return, not just the numbers in it.
Refund questions
How accurate is this estimate?
It is exact on the parts it models — the brackets, the standard deduction, self-employment tax and the child and dependant credits are all applied at the published 2026 figures. It is silent on everything else, which is listed under the calculator. Treat it as a well-founded projection of an ordinary return, and get a prepared return for a real one.
Why is my refund smaller than last year on the same income?
Usually withholding rather than tax. A change in pay pattern, a bonus withheld at the flat supplemental rate, or a W-4 filled in differently will all move the refund without the underlying liability moving. A child turning 17 also does it — the $2,200 credit stops and the $500 other-dependant credit takes over.
It says I owe. Am I going to be penalised?
Not necessarily. A balance due is only a problem when too little was paid in during the year, and there are safe harbours that prevent a penalty even when you owe. The quarterly calculator works out where those thresholds sit for you.
Should I be itemising?
Only if your itemised deductions come to more than the standard deduction, which for most people they do not. The usual exception is a household with mortgage interest, significant state and local taxes and real charitable giving. Enter the total and the calculator will use whichever is larger.
Does this include South Carolina tax?
No, it is federal only. South Carolina is a separate calculation with its own rates, and your state result can differ from your federal one. We prepare both together in tax preparation.
Why is the Earned Income Tax Credit not included?
Because a wrong EITC figure is worse than none. It depends on earned income, investment income, filing status, and the number and ages of qualifying children, and it phases in and back out again — modelling it partly would give a confidently wrong answer to the households it matters most to. If your income is in range, the calculator says so and we will check it for you at no cost.
Not the question you had? The full tax FAQ covers more ground, and our client reviews say what the work is actually like.
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