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The Internal Revenue Service states that your marital status on December 31 of the previous calendar year is your tax filing status for that entire year. See: 3 Ways Smart People Save Money When ...
Tax Filing Status Options. Tax Filing Status. Who Can Use It. Single. Not married on the last day of the tax year. Legally separated according to the laws of your state on the last day for tax year
With Tax Day fast approaching, understanding your tax filing status is - but not always easy to comprehend. For instance, if you're married, you can file jointly, or separately. Read Next: Taxes on...
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]
Married, single, divorced, and widowed are examples of civil status. Civil status and marital status are terms used in forms, vital records, and other documents to ask or indicate whether a person is married or single. In the simplest contexts, no further distinction is made. A status of married means that a person was wed in a manner legally ...
In the most extreme case, two single people who each earned $400,000 would each pay a marginal tax rate of 35%; but if those same two people filed as "Married, filing jointly" then their combined income would be exactly the same (2 * $400,000 = $800,000), yet $350,000 of that income would be taxed as the higher 39.6% rate, resulting in a ...