Is the online 2014 IRS tax calculator useful?


Quick Answer

Online 2014 tax calculators such as ones found at H&R Block and TaxAct are helpful because each service allows taxpayers to estimate their income tax refund or bill, the websites explain. Taxpayers can calculate estimates based on information they provide, such as filing status and total income.

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Full Answer

Personal information, such as head of household, age, marital status and dependent status, is needed when using tax calculators, TurboTax explains. When using TurboTax's calculator, taxpayers click three types of income, including business income, wages and dividends. Taxpayers can select certain deductions, such as charitable and education, and a chart on the right side of the calculator keeps track of whether or not the taxpayer receives a refund or owes money.

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