Filing Status (federal Income Tax)

Filing Status (federal Income Tax)

Filing status is an important factor when computing taxable income under the federal income tax in the United States. The federal tax filing status defines the type of tax return form an individual will use. Filing status is based on marital status and family situation.

A taxpayer will fall into one of five possible filing status categories: single individual, married person filing jointly or surviving spouse, married person filing separately, head of household and a qualifying widow(er) with dependent children. A taxpayer who qualifies for more than one filing status may choose the most advantageous status.

Read more about Filing Status (federal Income Tax):  Determining Filing Status, Importance of Choosing Correct Status

Famous quotes containing the words filing, status and/or income:

    Is not the whole world a vast house of assignation of which the filing system has been lost?
    Quentin Crisp (b. 1908)

    Knowing how beleaguered working mothers truly are—knowing because I am one of them—I am still amazed at how one need only say “I work” to be forgiven all expectation, to be assigned almost a handicapped status that no decent human being would burden further with demands. “I work” has become the universally accepted excuse, invoked as an all-purpose explanation for bowing out, not participating, letting others down, or otherwise behaving inexcusably.
    Melinda M. Marshall (20th century)

    The secret of success lies never in the amount of money, but in the relation of income to outgo.
    Ralph Waldo Emerson (1803–1882)