Married Filing Separately
Question: MArried filing separately to avoid entire refund to offset wifes student loan default?
Last year our entire refund and stimulus check went to pay off wife’s defaulted student loan. Can I file as Married Filing Separately so that only her refund is taken or will it matter?
Answer: You don’t have to file separately, but that is an option. Another option (which can take longer, but gets both of you more money back if you are due a refund) is to file as an injured spouse (form 8379). That way, you can still get the tax benefits of Filing Jointly, but only her share of any return would be taken- not yours.
Hope that helps. :0)
Is there any benefit to a married couple filing separately?
Filing Separately
Question: which tax form for married filing separately?
I was married for most of 2007, so my tax status is married for the year. But I don’t know what form to use since we are filing separately. I usually use a 1040EZ since I don’t have dependents. Can I still use it?
We’re no longer together. That’s why we’re filing separately.Answer: You use whatever form you would normally use. Filing status makes no difference. You and your spouse will likely pay less total tax if you file a Joint Return, however.
Edit: If you were legally divorced as of 12/31/07, then you file as single.
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Filing Separately Or Jointly
Question: Better to file separately or jointly..?
Me and my husband owe taxes for the first time, due to main income coming from pension now. We were wondering if filing separately would help out lowering the number? We’ve always filed jointly in the past.
Answer: Married Filing Joint has lower tax rate so in most cases, filing joint is much better off than filing separate. Some deductions are disallowed if you file as Married Filing Separate.
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File Taxes Single Or Married
Question: if Married, is it more convenient to file taxes as “single” or “married”?
I just got married and next year will be the first time I will file taxes. In case of a divorce in the future, is it better if now I file taxes still as single or it doesnt make a difference if I file as married?. If I know that a divorce will be easier to get in the future if I filed my taxes as single while I was married then maybe that is something I should do. Please, help me on this. I love my husband by I would like to know this for general information.
I knew I get a tax break, we both have FT Jobs, but in terms of making a divorce easier and faster, would it be better to start filling as single or married. Thank you.Answer: If you do not have a full handle on your husbands financial situation, file as MFS. You are give 3 years to amend into a MFJ return if you decide later that you want to.
The MFJ wildcards are if your hubby forgets to tell you about all of his income, he fudges deductions or, oops, has back taxes, a student loan in default or a child he forgot to to tell you about.
The IRS intercepts refunds for back taxes, loans and child support. While there is an injured spouse form, it takes ages to process and many people are unhappy with the amount.
For missed income and flunked audits, the IRS can and will hold you liable for the debt on any MFJ return. The IRS is NOT bound by the divorce decree or even sincere promises that the ex-hubby will pay the money back. (The Innocent Spouse form is not a guaranteed solution to getting out of the debt.)
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Paying Taxes : How to File Taxes as a Single Person
Married Filing Taxes Separately
Question: How much worse off are Filing Taxes Separately when married?
My bf and I are probably going to get married this year, but all his bills, support, etc are done through his business. I prefer to do my own taxes and would rather not have my stuff done through the business.
So what kind of penalties would I face should I choose to file separately next year ?
Would I have to do anything “special” this year to prepare for a change in filing status?
**Just like to be prepared
**
Answer: it depends on your situation and income. If you file separately you lose the earned income deduction and a few others as well. If you are in a community property state and you file separately you must add together both your incomes and divide by 2 to get your income for taxes.
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Do People Married Filing Separately Claim The Same Things?