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tax refund calculator estimaters?

Are those tax refund estimater calculaters usually correct? Are you suppose to get back most of what you paid in? We have 1 child if that makes a difference? We paid in almost 5,000 between the tow of us and the calculator estimater showed us getting back about $1500.00 . Does that sound right? The lady hasn't got to our taxes yet and i was trying to get a ball park figure?

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Anonymous

Asked by Anonymous at 10:09 AM on Feb. 17, 2009 in Money & Work

Answers (4)
  • It really depends on what you make too. But it sounds about right.
    Anonymous

    Answer by Anonymous at 10:11 AM on Feb. 17, 2009

  • we did our taxes online last night at tax act... we paid in around 6000 and getting back almost 4000
    krazyash023

    Answer by krazyash023 at 10:12 AM on Feb. 17, 2009

  • You only get back what you paid in if you are low income. You would also qualify for EIC under the same scenerio. If you make over the amount for EIC then you would still pay taxes so theyd keep most of what you paid in and give you the tax breaks such as for a child ($1000 tax credit) etc.
    gemgem

    Answer by gemgem at 10:25 AM on Feb. 17, 2009

  • Go to turbotax.com - it is so easy! They don't ask for payment until its time to submit so you can get an idea there...
    Kristen1010

    Answer by Kristen1010 at 11:47 AM on Feb. 17, 2009

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