Tax Overpayment Calculator
Calculate tax overpayment and refund amounts. Determine if you’ve overpaid taxes and estimate your potential refund based on income, tax paid, and liability.
Step 1: Tax Details
$50,000
$12,500
$11,000
Understanding Tax Overpayment
Tax overpayment occurs when you pay more tax than you actually owe. This can happen due to incorrect withholding, tax credits, deductions, or changes in income. Overpaid taxes are typically refunded by the tax authority.
Step 2: Calculation Options
Tax Overpayment Formula
Overpayment = Total Tax Paid – Actual Tax Liability
A positive result means you have overpaid tax and may be due a refund. A negative result means you have underpaid tax and may owe additional tax.
Tax Overpayment Calculation Results
Refund Summary
Tax Breakdown
Currency Comparison
Tax Overpayment / Refund
$1,500.00
Based on $50,000 income with $12,500 tax paid
Effective Tax Rate
22.0%
Actual Tax Rate
20.0%
Overpayment %
13.6%
Refund with Interest
$1,545.00
Tax Breakdown Analysis
| Tax Component | Amount | Percentage of Income | Notes |
|---|
Currency Comparison
| Currency | Code | Exchange Rate | Refund Amount | Tax Overpayment |
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