How Much Will I Get Back On My Income Tax Return?

how much will i get back on my tax return

How much you will get back on your income tax return will be dependent on a range of different factors, so the answer to this question is that you cannot know without working out figures from what you have declared in your tax return.

What you will need is a 1040a form which you will be able to get from your local tax office, or if you ring up and request one. You must write your name and the name of your partner if you have one within the label area of the return, the same goes for status 2 as if you are married you need to declare this.

Next you need to check box 6a and b for exemptions if you have children. If you do have children you need to list them, their DOB (date of birth) and whether they are in school. Now write down your income, joint if it needs to be, on section 7, 15, 21 and 22. You then take off the deduction for joint married claim and any children. Now you are able to figure out based on the figure

in section 6d how much you owe or do not owe the tax man. If your figure means that you owe no tax then carry on filling out the form because in certain circumstances and certain cases you could in fact be eligible for income earned and/or tax credits dependant on what is written in section W2 box 2. This will work out roughly how much you will receive back on your income tax return.

If you have any problems with working out your exact tax return or any other details then you need to contact an accountant as they will be able to sort out your financial statements and figure out, using the up to date published figures, and how much you will receive. Hiring an accountant is not as expensive as you may think and they are qualified to keep all of your affairs in order so that you will never file a late tax return again and if it is believed that you are owed tax back they will fill out all of the correct forms and if needs be appeal for you on your behalf.


Category: Taxes

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