2023 Individual Income Tax Calculator

Just answer a few simple questions about your life, income, and expenses, and our free tax calculator will give you an idea if you should expect a refund and how much, or if you’ll owe the IRS when you file taxes in 2023. Don’t worry about being exact – just do the best you can. You always have the option to go back and get a new tax refund estimate, especially if your tax situation significantly changes.

2021 Individual Income Tax Calculator

Individual Income Tax




Selecting the correct filing status when completing your income tax return can be the first important step when properly reporting your tax return. This selection can impact the tax benefits you receive, the amount of your standard deduction, and ultimately the amount of taxes you pay. To help guide you in the right direction, find each of the IRS filing statuses below along with relevant descriptions and requirements.

1. Single. This status normally applies if you’re unmarried or legally separated as of the last day of the tax year.

2. Married Filing Jointly. If you’re married as of the last day of the tax year, you and your spouse can choose to file a joint return. If your spouse died during the tax year, you might choose to file a joint return for that year.

3. Married Filing Separately. A married couple can also choose to file separate tax returns. They might decide to file separately due to a separation or pending divorce, or simply because they prefer to keep their finances separate.

4. Head of Household. In most cases, you must be unmarried to file as Head of Household, although there are some exceptions. However, you must have paid more than half the cost of keeping up a home for yourself and a qualifying person, such as a child or dependent relative.

5.Qualifying Widow(er) with Dependent Child. This filing status may apply if your spouse died during the previous two tax years and you have a dependent child.

The standard deduction amounts for 2023 are:

  • For single taxpayers and married individuals filing separately, the standard deduction is $13,850.
  • For married couples filing jointly, the standard deduction is $27,700.
  • For heads of households, the standard deduction is $20,800
  • These amounts reflect an increase from the previous year to adjust for inflation.

When is income tax due?

The tax deadline for individuals will be April 15th, 2022. If you still haven't filed your 2020 taxes and you've filed an extension, your deadline is October 15, 2021.

The Child Tax Credit offers a maximum $2,000 per qualifying child. The maximum income (AGI) to receive the full credit varies depending on filing status as follows:

  • Single: $200,000
  • Married filing jointly: $400,000
  • Head of household: $200,000
  • Married filing separately: $200,000

If your AGI is more than the figures listed above, you still may be eligible to receive a partial credit. The limits at which the Child Tax Credit disappears are as follows:

  • Single: More than $240,000
  • Married filing jointly: More than $440,000
  • Head of household: More than 240,000
  • Married filing separately: More than $240,000

The IRS issues most refunds in less than 21 calendar days from the day the tax return is processed.

Are you among the many Americans who file your taxes early so you can get your refund sooner? If you claim the Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) and expect to receive a refund, you’ll have to wait until after mid-February to get it.

If you don’t claim the EITC or the ACTC, the IRS says your refund will likely be processed in the typical time frame of 21 days.

Your tax bracket shows you the tax rate that you will pay for each portion of your income. For example, if you are a single person, the lowest possible tax rate of 10 percent is applied to the first $9,525 of your income in 2021 . The next portion of your income is taxed at the next tax bracket of 12 percent. That continues for each tax bracket up to the top of your taxable income.

Find your tax bracket for 2021

NexGen Taxes provides the Tax Calculator to assist you with your tax planning and you should keep in mind that it is not a substitute for preparing your full tax return at www.nexgentaxes.com. The Calculator provides an estimate of your 2021 tax liability or refund based on the limited information you provide.