With changes to tax law occurring on an annual basis, piled on top of changes in your personal life and income, it's hard to know exactly how much money you will owe or be owed on any given tax return. There are some tax refund calculators online, but they are not always up-to-date, and even when they are, they are not necessarily easy to use. So the TurboTax TaxCaster from Intuit is a pleasant surprise and one of the most effective ways to estimate your future liability or refund with the IRS. The app doesn't require any personal information or log-in, it features no ads other than a link to the fantastic TurboTax 2012 app, and it takes only a couple of minutes to fill out.
After starting the app, you'll be asked a few personal questions such as your marital status, whether you are filing as head of household, your age, and the number of dependents you will be claiming. After entering your income, deductions, credits, and payments, TurboTax will calculate your estimated refund or liability, breaking it down line by line on the left sidebar so you can see exactly which numbers affect your bill. In multiple tests, including for previous years', balances we found it to be very accurate, and the process only took around two to three minutes to complete.
If you are eager to see what your refund will look like in April, or if you need to know what your final tax bill will be, there is no faster or easier way to do so than with the TurboTax TaxCaster. Whether you are preparing to file or need a bit of information before prepping your taxes for this year, we highly recommend the TaxCaster for your iPad as an excellent starting point.