An accurate “bottom-line” tax forecast can help taxpayers better plan their finances, especially if they need to increase savings to pay taxes this year or to increase withholding in 2012 to avoid owing next year.
(PRWEB) February 28, 2012
Tax information and preparation website 1040.com has a free, simple and accurate tool to help taxpayers estimate their federal refund or tax due. An accurate “bottom-line” tax forecast helps taxpayers better plan their finances, especially if they need to increase savings to pay taxes this year or to increase withholding in 2012 to avoid owing next year.
Getting an accurate estimate with 1040.com’s estimator requires just a few minutes and only five steps:
1. Enter information about age and dependents.
2. Enter income amounts. Users can enter the gross amount from a paycheck and the site will automatically figure the yearly amount.
3. Enter adjustments or deductions to income, including education expenses, retirement contributions, mortgage interest and more.
4. Enter taxes paid and expected credits for the year.
5. View the estimated refund or tax due, complete with calculated adjusted gross income, taxable income, and estimated Earned Income Credit.
1040.com also offers quick and affordable federal and state returns, with e-filing and printing included for free. Federal 1040EZ returns are free, with estimated federal refunds as quick as 8 days (with e-filing and direct deposit).
Visit 1040.com for free downloadable tax forms in PDF format, a guide to federal taxes, financial calculators and more.