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3. What Is My Married Filing Status? If you weren’t married on Dec. 31 of the tax year, the IRS considers you to be single, the head of household or a qualified widow(er) for that year.
Qualifying Widow/Widower Standard Deduction: Qualifying widows or widowers can take a standard deduction of $24,800 for 2020. Don’t Forget: The 6 Most Important Tax Deductions You Need to Claim ...
Since the 1970s the program has grown to several thousand sites nationwide, partnering with non-profit organizations, local municipalities, and colleges and universities. In Tax Year 2015, 3.7 million VITA tax returns were filed with a 94% accuracy rate. VITA provides service to taxpayers making less than $58,000 per year.
4. Free tax filing assistance. The IRS offers free assistance and basic tax return preparation to anyone ages 60 and older through the Tax Counseling for the Elderly program. This program is ...
An individual's tax liability depends upon two variables: the individual's filing status and the taxable income. [16] The status can determine the correct amount of tax, whether the taxpayer can take certain tax deductions or exemptions that could lower the final tax bill, and even whether one must file a return at all. [ 17 ]
An EA must either have prior qualifying employment with the IRS or pass a comprehensive IRS test on individual and business tax returns. To maintain EA status, they must complete several credit ...