Basically, when it comes to filing your personal tax return, there are five filing statuses…
A taxpayer’s filing status defines the type of tax return form they should use when filing their taxes. Filing status can affect the amount of tax they owe, and it may even determine if they have to file a tax return at all.
There are five IRS filing statuses. They generally depend on the taxpayer’s marital status as of Dec.31. However, more than one filing status may apply in certain situations. If this is the case, taxpayers can usually choose the filing status that allows them to pay the least amount of tax.
When preparing and filing a tax return, the filing status affects:
Here are the five filing statuses:
More Information:
Publication 501, Dependents, Standard Deduction and Filling Information
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