FILING STATUS
What are the advantages of filing Head of Household (HOH)?
Filing as (HOH) or head of household gives you a higher standard deduction and lower tax rate than filing as a single person or as married filing separately, however you have to be single or separated and you must have a qualifying dependent ...
What is a Qualifying Widow/Widower with a Dependent Child?
This is a filing status that allows a widow/widower to keep the benefits of the Married Filing Jointly status for two years after the year of their spouse's death. They must have a qualifying dependent child in order file under this status.
What is Married Filing Separately of MFS?
A married couple who choose to file separately from their spouse may file as Married Filing Separately. While this is not the most ideal choice for married couples as it deemed to be the least beneficial, a taxpayer may still have this option. There ...
What is Head of Household or HOH?
What is HOH? Head of Household is a filing status that applies to taxpayers who are unmarried and have a qualifying dependent. You must also have paid more than half the cost of maintaining a home for you and your qualifying person to qualify for ...
What is married filing jointly or MFJ?
What is married filing jointly? A married couple generally file as married filing jointly but they may also file separately (check what is married filing separately for more details). Also, if your spouse died during the year and you did not remarry, ...
What is Single?
What is Single? It applies to anyone who is unmarried, does not have qualifying dependent, widowed without a qualifying dependent, divorced or legally separated according to state law.
Types of Filing Status
There are 5 types of filing statuses. These are: single, head of household (HOH), married filing jointly (MFJ), married filing separately (MFS), and qualifying widow/widower with dependent child (QW).
What is a tax filing status?
What is a tax filing status? Your tax filing status is used to determine your filing requirements, standard deductions and eligibility for certain credits. This will also determine which tax rate to use when calculating your income tax for the year. ...