How Do You Figure How Much You Get Back In Taxes. Obtain copies of all tax returns that you still owe taxes on. Irs special rules may apply if you live in a community state (arizona, california, idaho, louisiana, nevada, new mexico, texas, washington, and wisconsin) (continue reading information listed below faq).
Although it won't be an exact figure, it will give you an estimate of what you can expect to get back (or pay). The first thing you'll need to do is gather all of your relevant returns and documents that relate to each year you still owe back taxes for. Our free tax calculator can provide a better picture of what you’ll be owed after you file.
Zacks puts it this way :
“suppose you earn enough to be in the 28 percent bracket, but only by $300. The exemption rate for 2011 is $3,700. Fortunately, you may be able to recoup some of those costs by claiming tax deductions on your federal taxes. Determining back taxes may be as simple as filing or amending a previous year's tax return.