If your spouse has intentionally reported false numbers, the IRS will see you as a partner in crime. If you or your spouse had medical bills last year, you may be able to deduct some of it.
How much you can deduct depends on how much money you make. Basically, the more income you make, the less you can deduct from your medical expenses. So if your spouse makes a lot more than you do and you file jointly, your medical deduction will be a lot less than if you file separately. Figuring out which way works best can be mathematically intense. Most tax filers can substantially lower their taxable income with that. Tax credits are like gift cards from the IRS—they apply to your final tax bill and reduce it dollar-per-dollar.
Call it a late wedding present or an anniversary gift , but the IRS gives more tax credits to married couples filing jointly than to couples filing separately. Now, just to be clear: You can get these credits if your filing status is married filing jointly, single or head of household.
When you file jointly, you only have to fill out one tax return—not two. When you file separately, you have to follow certain rules that can make your day a little thornier. For example, only one of you can claim your child as a dependent.
No cherry picking. Estimate your taxes with the Married Filing Joint filing status, then do a new calculation with the Married Filing Separate filing status. When you prepare your Tax Return on eFile. If you are married, you and your spouse can agree to file a joint tax return. You can file a joint tax return with your spouse even if one of you had no income.
You can use the Married Filing Jointly filing status if both of the following statements are true:. If one spouse is a nonresident alien or dual-status alien married to a U. If a joint return is filed, the nonresident spouse will be treated as U.
Legally married same-sex couples are required to file as either Married Filing Jointly or as Married Filing Separately, just as opposite-sex married couples are required to do. Due to a Treasury Department ruling on August 29, , same-sex couples that have been legally married must file as Married Filing Jointly or as Married Filing Separately on their federal tax return s. They must use one of these filing statuses on their federal returns regardless of the state where they reside, as long as they were legally wed in a state or the District of Columbia, a U.
If the state for which you are filing a return recognizes same-sex marriages, then you will be able to file as married filing jointly, provided you meet all the normal requirements.
If, however, the state does not recognize the legality of same-sex marriages, then you will not be able to file a joint return with the state. In this case, each of you will need to file as Single , or one of you can file as Head of Household , if you meet the requirements.
Check with the state to find out its latest rules on the matter. If the couple was legally married in a year prior to , but did not file as married for that year, they may file an amended return to change their filing status, until the statute of limitations expires.
You can file an amended return to the IRS and or State. Be aware, if you expect a tax refund for any given tax year and you did not file a return by the initial deadline , you have 3 years after the initial deadline to file a tax return and be able to claim your tax refund.
After three years, your tax refund will expire. To be eligible for the married filing jointly MFJ filing status, the taxpayers must be legally married to each other on or before the last day of the tax year and both must agree to file and must sign the Joint Return.
Also, nonresident aliens generally cannot file as married filing jointly if either spouse was a nonresident alien at any time during the tax year. Whether or not taxpayers are considered married on the last day of the tax year is decided by the law of the applicable state or jurisdiction.
Same-sex marriages that are legally entered into are recognized for all federal tax purposes. Taxpayers who divorce or separate under a decree of divorce or separate maintenance that is final at any point during the tax year are considered unmarried for that entire year and cannot file a joint return.
Taxpayers who are married and not widowed must choose one of two filing statuses: married filing jointly MFJ or married filing separately MFS. Filing jointly is likely to result in less tax if one spouse earns most of the income and deductions will not be itemized. Filing separately may result in less tax if both spouses earn the same income and if one or both have medical expenses, casualty losses, or miscellaneous deductions since joint and separate tax rates are likely to be the same and since adjusted gross income floors will be lower.
Any time both spouses earn taxable income, the tax should be figured both jointly and separately and a return filed using the status that provides the lowest tax.
Internal Revenue Service. Accessed Jan. Income Tax. Roth IRA. Your Privacy Rights. To change or withdraw your consent choices for Investopedia. At any time, you can update your settings through the "EU Privacy" link at the bottom of any page. These choices will be signaled globally to our partners and will not affect browsing data. TaxSlayer Pro can help tax preparation practices of all sizes work with married couples to ensure their net refund is the highest it can be or their balance due is the smallest it can be when filing their taxes each year.
This article was last edited on December 23, The information is up to date through tax year returns filed in Your married clients have a choice when it comes to filing their taxes. They can either file as: Married Filing Jointly MFJ — combined together on one tax return, or Married Filing Separately MFS — each files his or her own tax return Whether they wed on January 1, December 31 or anytime in between, newlyweds and everyone who is legally married are eligible for several tax breaks if they file their taxes jointly.
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