Taxes and Tax Preparation
Income Taxes
Tax Refunds

How do you figure out how much you will get back on your tax return?

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Wiki User
January 05, 2007 4:54AM

Once you have completed your tax return you will know how much of a refund you will receive or if you will owe any tax. The tax return is where you claim all taxable income and subtract all allowable deductions, thereby discovering if you have overpaid or underpaid your federal and state income taxes. The tax refund is the amount returned to a taxpayer for overpayment.