While
gathering information to complete your income tax return, you may give little
thought to your filing status. But there's a reason "filing status"
choices appear at the beginning of tax forms: They're important.
Why?
Because filing status can impact exemptions, reportable income, deductions,
credits, tax rates, liability, the type of form you file, and whether you need
to file at all. In addition, some states require that you use the status
reported on your federal return, which can affect the amount of state tax you
pay.
Here
are facts to consider when determining filing status:
1.
Your status generally depends on whether you're married or single on the last
day of your taxable year (typically December 31). In cases of divorce or
separate maintenance decrees, the laws of your state determine whether you're
considered married or single. Same-sex marriages are not recognized for federal
income tax purposes.
2.
As a married couple, you can choose joint or separate returns. When you file
separately, you can change your mind later and amend your return to file
jointly. However, you can't switch from joint status to married filing
separately after the due date of the original return.
3.
If you were widowed during the year and have not remarried, you have the option
of filing jointly with your late spouse. When you're widowed and have dependent
children, you can continue to use joint tax rates for two additional years
following the year your spouse died.
4.
Head of household status is intended for single taxpayers with dependent
children. It may also be available when you're single and maintaining a
separate household for a parent - including one living in a nursing home.
If you need more information or if you have questions
about your filing status please contact us.
Thanks for reading,
Maris & Associates CPA's
10512 19th Ave SE Suite 101
Everett, WA 98208
425-338-0414
info@mariscpa.com
