Ever wonder what you will be paying in federal income taxes for the year?
The 1040 EZ Estimator is a calculator based on the 1040EZ form that will help you with that answer. Enter in all the information and click on calculate to get an idea of whether you will be paying or getting a refund from the IRS.
The maximum income is $120,000 and the interest is limited to $1,500 based on the IRS rules. The calculator has been updated to use the 2009 tax tables.
For 2010, there is a Make Work Pay credit. This credit is offset with any other social security credits or if your income exceeds a certain amount. This credit was not figured into our calculator since we don't know your specific situation.
Try our 1040 Estimator if you want to see how buying a house and itemizing your deductions can affect your taxes.
Remember to always consult a tax professional if you have specific questions regarding your tax situation.
Please visit our website at www.busiapps.com for FAQs. We're always looking to improve and appreciate any feedback on our calculator.
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