How can I find out how much my tax refund will be next year?

Use an online tax estimator.

Remember that in bankruptcy, we want to file a chapter 7 case AFTER you have received and spent your tax refund.  Otherwise, you’ll lose the refund to the bankruptcy trustee.  I was sitting down with a young couple yesterday who had received a $6,000 tax refund last year (April of 2014) and had no idea how much their refund was going to be next year (April of 2015).

If your income is the same this year as last year, then odds are that your refund will be about the same as well.

However, if you want to run an online tax estimator, it will take you about 2 minutes to get a good estimate on how much your refund will actually be.  You simply need a paystub with your year to date totals, along with total deductions, and it is as simple as typing the numbers into an online calculator for a guesstimate of the upcoming refund.

My personal favorite is the HR Block tax estimator.  Not because it is necessarily better than any others out there, but simply because I used it first years ago and had a good experience.tax estimator

This is something worth spending a few minutes on;  you don’t want to delay filing bankruptcy if you’re refund will be small, and you don’t want to rush your bankruptcy if you could miss out on a good refund that could buy a lot of simple necessities for the family.