Should married couples file joint or separate tax returns?

  • by:
  • Source: The Hill
  • 03/18/2024
It’s tax season again, with Tax Day only about a month away. If you haven’t filed yet, you may want to double-check your filing status. 

Your filing status, which largely depends on your marital status, determines at what rate your income is taxed, the IRS explains. It can also influence how much you owe, the credits you can claim, your standard deduction, and whether you’ll get a refund. 
 

There are five filing statuses, of which you will usually select one:

  • Single
  • Married, filing jointly
  • Married, filing separately
  • Head of household
  • Qualifying surviving spouse
Outdoor Wedding Season by Samantha Gades is licensed under Unsplash unsplash.com

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