Income Tax Filing Status

Below are the various filing statuses:

1. Single - this status normally applies if you aren’t married. It applies if you are divorced or legally separated under state law.
2. Married Filing Jointly - if you’re married, you and your spouse can file a joint tax return. If your spouse died in the current year, you can often file a joint return for that year.
3. Qualifying Widow(er) with Dependent Children - this status may apply to you if your spouse died recently and you have a dependent child. Be sure to check all the IRS rules regarding this filing status.
4. Married Filing Separately -  a married couple can choose to file two separate tax returns.  Reasons for filing separately may include only wanting to be responsible for your own tax and not your spouse's or in an attempt to lower income taxes.
5. Head of Household - In most cases, this status applies if you are not married, but there are some special rules. For example, you must have paid more than half the cost of keeping up a home for yourself and a qualifying person.   Be sure to check all the IRS rules regarding this filing status.

Disclosures:  

Nothing herein should be interpreted as tax advice.  Please consult your personal tax advisor when selecting an income tax filing status.