Search results
Results From The WOW.Com Content Network
The head of household status can lead to a lower taxable income and greater potential refund, but to qualify, you must meet certain criteria.
For premium support please call: 800-290-4726 more ways to reach us
Plus, for a head of household filer this income level falls into the 12% tax bracket, significantly below the bracket that applies to single filers with this income.
The head of household filing status was created in 1951 to acknowledge the additional financial burdens faced by single people caring for dependents. [ 3 ] [ 1 ] Consequently, it provides single parents and other people caring for qualifying dependents with a larger standard deduction and preferential tax rates compared to single filers ...
Filing as a head of household can have substantial financial benefits over filing as a single status taxpayer. As a head of household, one may obtain a more generous tax brackets and larger standard deductions. [14] There are many special rules and exceptions applicable to head of household filing status. [15]
Head of the household or Head of household may refer to: Head of household, filer status for the primary income tax filer for a household in the United States; Head of the household, or Householder, a census term that refers to the head of a family unit or other household; Hoju (literally "head of the household"), a family register system in ...
Head of household is a tax filing status that’s designed for parents or adults who have a qualifying dependent and meet other guidelines. To claim head of household on your taxes, you must:
Filing status Year Single Married filing separately Married filing jointly Qualifying surviving spouse Head of household 2024 [6]: $14,600 $29,200 $21,900