IRS Tax Tip: Understanding Different Tax Return Filing Statuses

Taxpayers don’t typically think about their filing status until they file their taxes but it’s important a taxpayer uses the right filing status because it can affect the amount of tax they owe for the year, if any, the IRS stated. Sometimes more than one filing status may apply to a taxpayer and when that happens, the taxpayer should choose the one allowing them to pay the least amount of tax. Taxpayers can choose to file as single, married filing jointly, married filing separately, head of household, or as a qualifying widower with a dependant child. Taxpayers should check all ...