How your tax is figured
- Add up your income, then subtract pre-tax contributions to get your adjusted gross income (AGI).
- Subtract the larger of the standard deduction or your itemized deductions to get taxable income.
- Apply the tax brackets to taxable income.
- Subtract credits such as the child tax credit ($2,200 per child under 17 in 2026).
- Compare the result with the tax already withheld. More withheld than owed means a refund.
2026 standard deduction
| Filing status | Standard deduction |
|---|---|
| Single or married filing separately | $16,100 |
| Married filing jointly | $32,200 |
| Head of household | $24,150 |
People 65 or older or blind get an additional amount, and a new temporary deduction for seniors runs from 2025 through 2028. They're not included here.
Frequently asked questions
Is a big refund a good thing?
A refund means you paid more during the year than you owed. It's your own money coming back without interest. If you'd rather have it in each paycheck, you can update your Form W-4.
Should I itemize?
Itemize only if your deductions, such as mortgage interest, state and local taxes, and charitable gifts, add up to more than the standard deduction. Enter the total above and the calculator uses whichever is larger.
When are taxes due?
Returns for tax year 2026 are normally due April 15, 2027. If you can't finish by then, you can file for an extension, but any tax owed is still due in April.