US Tax Estimator

By YZ CPA LLC

Overview

The calculators from YZ CPA's free US Tax Estimator app (iPhone, Apple Watch, Android), for Claude. - Estimate federal income and self-employment tax: refund or balance due after withholding and estimated payments, marginal and effective rates, a bracket-by-bracket breakdown, and the safe-harbor quarterly payment. Tax years 2025 and 2026, with each year's IRS figures. - List upcoming federal deadlines: quarterly estimated payments, individual returns and extensions, and optionally S-corporation, partnership and C-corporation dates, already moved off weekends and holidays. - Check whether FBAR (FinCEN 114), Form 8938 (FATCA) or Form 3520 (foreign gifts) is required, using the right threshold for the filing status and for living in the U.S. or abroad. - Screen a non-U.S. savings life insurance policy (for example a Hong Kong whole-life plan) under IRC section 7702. - Compare the cost of the catch-up paths for unreported foreign accounts or income: delinquent information return procedures, amended returns with a reasonable-cause statement, or the Streamlined Domestic Offshore Procedures. - Estimate the basis step-up on inherited stocks, ETFs, mutual funds and crypto: the date-of-death value from public market prices, the IRC section 1014 step-up, the capital-gains tax the heirs avoid (15% to 23.8%), and the Form 706 and portability dates. Every tool is a read-only calculation. There is no account or sign-in, the tools ask for no names or tax IDs, and the figures sent are not stored. The step-up tool looks up public market prices by ticker symbol and date only. Results are estimates under simplified rules (federal only; no state tax, AMT or QBI deduction), not tax advice. For advice on a specific situation, YZ CPA's licensed CPAs are at yz-cpa.com.

Tools

check_foreign_reporting_requirements

Claude

Checks a U.S. person's foreign-asset figures against the filing thresholds for FBAR (FinCEN Form 114), Form 8938 (FATCA) and Form 3520 (gifts or bequests from a foreign individual or estate). Only the forms whose figures are given are checked. Thresholds only: it does not decide which accounts or assets count; the descriptions of each input say what to include.

compare_offshore_compliance_options

Claude

For a U.S. taxpayer who missed FBAR or Form 8938 filings or left foreign income unreported, estimates and compares the cost of three catch-up paths: A) delinquent information return procedures (only when no income went unreported), B) amended returns with tax and interest plus a reasonable-cause statement (with the statutory penalty exposure if reasonable cause is rejected), and C) the Streamlined Domestic Offshore Procedures (tax, interest and the 5% penalty). Also adds the 1% Form 720 excise tax on premiums paid to foreign insurers. Tax years 2019–2025. Assumes non-willful conduct; it does not decide eligibility.

estimate_federal_tax

Claude

Estimates a year's U.S. federal income tax plus self-employment tax, the refund or balance due after withholding and estimated payments, marginal and effective rates, a bracket-by-bracket breakdown and, when prior-year figures are given, the safe-harbor quarterly estimated payment. Also answers 'how much more can I earn, withdraw from a 401(k) or convert to a Roth IRA before the next bracket': the room left in the current bracket, the room before qualified dividends / long-term gains lose the 0% rate, and the tax on a planned extra amount. Uses the standard deduction (with the age-65+ addition) unless larger itemized deductions are given; the 2025–2028 $6,000 senior deduction with phase-out; qualified dividends and long-term gains at 0%/15%/20%; child tax credit with phase-out; Social Security wage base and Additional Medicare tax. Federal only: no state tax, AMT, NIIT, QBI deduction, IRMAA or other credits.

estimate_inheritance_step_up

Claude

For U.S.-listed stocks, ETFs, mutual funds or crypto held at someone's death (directly, in an estate or in a revocable living trust), estimates the value on the date of death from public market prices, the IRC §1014 step-up in cost basis and the capital-gains tax the heirs avoid (15%–23.8%), plus the dates that matter: the §2032 alternate valuation date, the Form 706 due date and the last day for a portability election (Rev. Proc. 2022-32). Valuation follows Treas. Reg. §20.2031-2(b) (mean of high and low, weekend and no-trade days weighted) and §20.2031-8(b) for funds. Up to 25 holdings. An estimate for planning, not a signed valuation a broker or the IRS will accept; the reply says where to get one.

list_federal_tax_deadlines

Claude

Lists upcoming U.S. federal tax deadlines with days remaining: quarterly estimated payments (1040-ES), individual return and extension dates, and optionally S-corporation, partnership and C-corporation return and estimated-tax dates. Dates are already moved off weekends and holidays.

screen_foreign_life_insurance_7702

Claude

Preliminary screen of whether a non-U.S. savings-type life insurance policy (for example a Hong Kong whole-life or savings plan) meets the U.S. definition of life insurance under IRC §7702, using the cash value accumulation test (CVAT) and the cash value corridor, from the policy's cash value table. A policy that fails is taxed each year on its inside growth (§7702(g)). Values in any one currency (ratios do not depend on currency). Does not check the guideline premium limit.

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