U.S. 1040EZ Tax Form Calculator (Tax Year 2016)
Containing only seven required inputs, the 1040EZ is one of the quickest forms to calculate your tax bill for 2016.
How the u.s. 1040ez tax form calculator (tax year 2016) works
It follows the 2016 Form 1040EZ: it adds wages and taxable interest, subtracts the combined standard-deduction-plus-exemption amount, applies the 2016 brackets, and compares the tax with your withholding.
Worked example: with wages, salaries and tips of $45,000, taxable interest of $200 and federal tax withheld of $5,000, the u.s. 1040ez tax form calculator (tax year 2016) shows estimated refund of $236.
- Total income
- $45,200
- Taxable income
- $34,850
- Tax
- $4,764
- Refund
- $236
The formula
2016 taxable income = wages + interest − (standard deduction + exemption); refund = withholding − tax.
Results are estimates for educational purposes and are not financial advice. Confirm exact figures with your lender, plan administrator or advisor.
Questions about the u.s. 1040ez tax form calculator (tax year 2016)
Who could file a 1040EZ?
Single or married-jointly filers with no dependents, taxable income under a limit, and only wages, salaries, tips and limited interest. It was the simplest IRS form.
Is the 1040EZ still used?
No — the IRS retired Forms 1040EZ and 1040A after 2017, consolidating everything into a redesigned Form 1040. The 2016 version is shown here for reference.
What income does the 1040EZ allow?
Only wages, salaries, tips, taxable scholarships, unemployment, and up to $1,500 of taxable interest. Anything more required a full 1040.
Is the U.S. 1040EZ Tax Form Calculator (Tax Year 2016) free to use?
Yes. Every calculator on FinCalculators is completely free, with no sign-up, login or paywall. You can run as many scenarios as you like.