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 are a number of tax benefits that an MFS is not eligible to claim and additionally, they must both claim the standard deduction or must both itemize their deductions. Meaning, if the taxpayer claim the itemized deductions, the the other spouse must also claim the itemize deductions on their return.
            Updated: 18 Jan 2015 02:49 PM
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