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Filing separately avoids the marriage penalty and allows each spouse to use the single tax brackets, which are slightly wider than the brackets for married couples filing jointly.
With little time left until April 15, the 2024 deadline for filing federal taxes in the U.S., some married couples are grappling with the question: Should we file jointly or separately? Check Out ...
Filing taxes under the status of “married filing separately” for tax year 2020 — i.e., the return you’re filing in 2021 — is largely unchanged from the 2019 tax year.
Married Filing Jointly vs. Married Filing Separately. One interesting thing about getting married and filing your taxes is that if your nuptials take place at the end of the year, even on the last ...
Filing status depends in part on marital status and family situation. [2] There are five possible filing status categories: single individual, married person filing jointly or surviving spouse, married person filing separately, head of household, and qualifying widow(er) with dependent children. [1]
For example, the 2023 standard deduction for married filing jointly is $27,700 ($29,200 in 2024) versus just $13,850 ($14,600 in 2024) for married filing separately.
Married filing separately: “Married couples can choose to file separate tax returns. When doing so, it may result in less tax owed than filing a joint tax return,” the IRS noted.
Generally, most married couples file taxes jointly, but for some couples, filing separately might help them avoid the so-called marriage penalty. Credit: Getty Images (emmgunn via Getty Images)