Each year, millions of taxpayers are surprised and/or disappointed by the results of their tax return.
Many individuals simply expecting to get money back without fully understanding how changes in their life will influence their tax refund.
Fortunately, there are excellent tools for estimating your 2009 tax refund.
If you’re in a rush, you can use TaxSlayer for a tax return estimator with last pay stub.
Avoiding Errors With a Tax Return Estimator
Estimating the amount you will get back or the amount you owe is difficult, even for tax professionals.
In fact, the Internal revenue service reported that 20% of paper returns have an error.
For that reason, the Internal Revenue Service recommends e-filing in the year 2019.
Returns that have been e-filed only have errors around 1% of the time.
Additionally, numerous tax regulations change every year.
Which means whatever you used to estimate your taxes last year may no longer be a valid way to estimate this year’s taxes.
Updating Changes For the Tax Return
In case your salary, employer, marital status, medical costs, additional income and living arrangements didn’t change from 2018, you can probably assume that the amount you owe or the amount you get back will be comparable to last year.
Nevertheless, if any one of the above changed, even slightly, you might be amazed at how big of an impact it could have.
So what do you need to estimate your 2019 tax return?
Clearly, you will need your W-2 and any other documentation related to earnings, including those earned from interest, a side job or anything else.
If you don’t have your last pay stub you can contact your employer to send you a summary of pay and tax for the year.
Or you can speak to a tax expert to help you with this sticky situation.
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