To pay or receive IRS? This simulator already allows to obtain an answer.

Simulate to know a forecast of how much you will receive or pay in IRS taxes.

The filing of the IRS 2025 statement regarding the 2024 income is less than a month away, but there is already a simulator that can help understand if you will have to pay taxes or, on the contrary, receive a refund.

It is important to mention that this tool is not yet the official one from the Tax Authority (AT), which will only make the official simulator available when the IRS filing period begins. However, it can be a valuable help to anticipate your tax situation. The simulator was launched by Coverflex.

Find out first: What happens to IRS expenses that are not validated?

"Knowing that the uncertainty about paying or receiving an IRS refund can be a source of concern, Coverflex simplifies this process again by providing a new version of its simulator. With this tool, it is now possible to estimate, with greater accuracy, the amount of tax to be paid or received before the official submission of the declaration, which begins in April," the Coverflex statement read on the Notícias ao Minuto website at https://www.noticiasaominuto.com/economia/2740560/vai-pagar-ou-receber-irs-ja-ha-um-simulador-que-ajuda-a-responder.

This online simulator, accessible through the Coverflex platform, helps taxpayers anticipate the amount to be paid, allowing for more effective financial planning.

The use is simple: simply enter some personal data, such as marital status and age, enter the income earned in 2024 and consult, on the Tax Authority Portal, the deductions applicable to the previous year. Based on this information, the simulator calculates whether you will have a refund or have to pay IRS, as well as the estimated amount.