<topic sku="core" tNum="288319" author="sallyh" xmlns="x-schema:hhTopicSchema.xml"><index><title>Learn about filing status options</title><category>tax</category><klink type="cncpt">Tell me about filing status options</klink></index>
<content>
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<p>Your filing status determines your standard deduction and your tax rates. It is very important to choose the best filing status for which you qualify. For instance, if you are single, you will generally pay less tax if you qualify to use the Qualifying Widow(er) or Head of Household filing status rather than the Single filing status. Money uses your filing status to help estimate your taxes and calculate the withholding information you give to your employer.</p>
<p>Choose one of the five filing status options.</p>
<ul>
<li>Choose Married Filing Jointly if you and your spouse combine your income on one tax return. Most couples pay less tax with this option than by filing separately. If you file a joint return, you and your spouse are generally both responsible for all tax, interest, and penalties that may be due on the return. (See Innocent Spouse Relief in the instructions for IRS Form 1040 for exceptions.)</li>
<li>Choose Married Filing Separately if you and your spouse file separate tax returns. This option is most often used by separated spouses. You cannot claim certain credits and deductions if you use this filing status.</li>
<li>If you're not married and you paid more than half the cost of maintaining a home for a qualifying person, such as a child, parent, or other dependent, you may qualify to file as a Head of Household.</li>
<li>If your spouse died within the last two years and you had a child living with you whom you can claim as a dependent, you may be able to file as a Qualifying Widow(er) and use the same tax rates as for Married Filing Jointly.</li>
<li>Choose Single if you're not married and you do not qualify for one of the other options. This filing status generally produces the greatest tax liability.</li>
</ul>
<p>For more information, see the instructions for IRS Form 1040 on the <alink type="xtnl" href="http://www.irs.gov">IRS Web site</alink>.</p>
