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Tax Refund Estimator
A quick 2026 federal estimate of whether you're owed a refund or will owe. Simplified, for planning, not filing.
About this estimator
Your refund (or balance owing) is simply the difference between the tax withheld from your pay during the year and the tax you actually owe. This tool estimates the "actually owe" side: for US filers it applies the federal standard or itemized deduction, 2026 federal brackets by filing status, and the Child Tax Credit; for Canadian filers it applies federal and provincial brackets with basic personal amounts, and deducts RRSP contributions. It's a planning estimate, not a filing calculation.
Tax refund FAQ
Why do I get a refund at all?
Employers withhold tax from each paycheque based on standardized formulas. If your deductions, credits, or life situation mean your true tax bill is lower than what was withheld, the difference comes back to you as a refund when you file. If too little was withheld, you owe the difference.
Why might my real refund be different?
This estimate covers federal tax only for US filers (state income tax, FICA/payroll taxes, and most credits are ignored) and federal-plus-provincial for Canadian filers (CPP/EI and most credits are ignored). The 2026 federal brackets are verified; state and provincial figures are approximations. Real returns include many more credits and deductions, so treat this as a directional planning number.
What's the difference between marginal and effective tax rate?
Your marginal rate is the tax on your next dollar of income, the bracket you're "in". Your effective rate is total tax divided by total income, which is always lower because earlier dollars were taxed in lower brackets.
Is a big refund a good thing?
It feels good, but it means you gave the government an interest-free loan all year. If your refund is consistently large, you can adjust your withholding (Form W-4 in the US, Form TD1 in Canada) to keep more of each paycheque instead.