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Can I get the Earned Income tax credit if I file Married Filing Separately?
Wiki User
∙ 14y ago
The Earned Income Credit can't be claimed if you file Married Filing Separately.
It can be claimed by all other filing status (Single, Married Filing Jointly, Head of Household, Qualifying Widow/er).
For more information, go to www.irs.gov/taxtopics for Topic 601 (Earned Income Credit). Also go to www.irs.gov/formspubs for Publication 596 (Earned Income Credit).
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∙ 14y ago
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What is the difference between filing Head of Household and filing married filing separately?
Married Filing Separately is somewhat penalized as you get the single Standard Deduction and you are disqualified from getting any most tax credits like Earned Income Credit and the Child Tax Credit. However, if you are married on December 31st of the tax year, you are required to file either Married Filing Joint or Married Filing Separately. The only exception to this is if you are legally separated by a Court Judge and have been for the last half of the tax year or more.
What are the benefits to a married couple filing their income tax jointly?
A married couple filing their income tax jointly generally will owe less tax than a couple who file separately, but not always. A lot depends on the amount of income each spouse reports.
If your husband and you have been separated for 9 months - live separately and have not filled for divorce can you file single on income tax forms?
This would fall into the 'married - filing separately' catagory.
What is an income tax schedule and where can you get one?
A tax schedule is just a tax rate table, that lets you see how much you owe in taxes based on your income. There are 4 tax schedules based on filing status - filing singly, head of household, married filing jointly, married filing separately. You can find the schedules on the IRS website.
What if your wife filed taxes married filing separately do you have any rights to see her return?
Not if she does not want you to see it. It is her own income tax return.
What is the difference between filing Head of Household and filing married filing separately?
Married Filing Separately is somewhat penalized as you get the single Standard Deduction and you are disqualified from getting any most tax credits like Earned Income Credit and the Child Tax Credit. However, if you are married on December 31st of the tax year, you are required to file either Married Filing Joint or Married Filing Separately. The only exception to this is if you are legally separated by a Court Judge and have been for the last half of the tax year or more.
Can you open a Roth IRA if your income is not high enough to be taxed?
YES You Can! When you have earned income, and your MAGI is less than - $166,000 (married filing jointly filers) - $114,000 (single and head of household filer) - $10,000 (married filing separately) You can contribute the lesser of your earned income or $5,000 for 2008. For more information about IRAs see IRS Pub 590, Individual Retirement Arrangements.
Can you file your taxes jointly if you are not married?
The available filing statuses for federal income tax returns are: Single Married Filing Jointly Head of Household Married Filing Separately Qualifying Widow or Widower No, there is no filing status for Single Filing Jointly.
What are the benefits to a married couple filing their income tax jointly?
A married couple filing their income tax jointly generally will owe less tax than a couple who file separately, but not always. A lot depends on the amount of income each spouse reports.
Income tax after a divorce. Joint or separate filing?
If you are legally separated or legally divorced on the last day of the year, you should file as single or head of household. You should NOT file as Married Filing Jointly or Married Filing Separately.
If your husband and you have been separated for 9 months - live separately and have not filled for divorce can you file single on income tax forms?
This would fall into the 'married - filing separately' catagory.
What is an income tax schedule and where can you get one?
A tax schedule is just a tax rate table, that lets you see how much you owe in taxes based on your income. There are 4 tax schedules based on filing status - filing singly, head of household, married filing jointly, married filing separately. You can find the schedules on the IRS website.
What if your wife filed taxes married filing separately do you have any rights to see her return?
Not if she does not want you to see it. It is her own income tax return.
Do you file your taxes if your on disability have gotten married spouse works and have kids?
If you have a spouse, you may file a joint tax return with your spouse whether or not you have any taxable income yourself. In virtually all cases, filing jointly results in paying less combined tax than being married filing separately. And not filing jointly could make your wife ineligible for certain tax breaks like the Earned Income Credit or a Roth IRA contribution.
If your wife didnt work in 09 do you have to file jointly this year?
As long as you are still married you should choose to file using the married filing joint status on your 1040 federal income tax return. Other wise your filing status would be married filing a separate tax return. MFJ you would have 2 exemption to start with on the MFJ income tax return. If she did not work she would not have any earned income that would have to be added to your earned income on the 1040 tax form.
Does a teenager have to file tax returns?
Being a teenager does not exempt anyone from filing tax returns. According to IRS Publication 17, page 4, if a teenager is NOT claimed as a dependent on someone else's return, then they must file a return if: · Your filing status is single and your gross income is at least $9,500 · Your filing status is married, filing jointly and your gross income is at least $19,000 · Your filing status is married filing separately and your gross income is at least $3,700 · Your filing status is "head of household" and your gross income is at least $12,200 · Your filing status is "qualifying widow(er) with dependent child" and your gross income is at least $15,300 According IRS Publication 17, page 6, unmarried teenagers who are dependents (for example - their parents claim them as dependents on their own tax return) must file a tax return if any of the following apply: · Your unearned income was more than $950. · Your earned income was more than $5,800. · Your gross income was more than the larger of: · $950, or · Your earned income (up to $5,500) plus $300. It's slightly more complicated if you are a married teenager but still claimed as a dependent. In that case, a teenager must file a tax return if any of the following apply: · Your unearned income was more than $2,100 · Your earned income was more than $6,950 · Your gross income was at least $5 and your spouse files a separate return and itemizes deductions. · Your gross income was more than the larger of: · $2,100 · Your earned income (up to $5,500) plus $1,450
Can you file married filing separate in Louisiana?
Yes, married individuals in Louisiana have the option to file their taxes as "married filing separately" if they choose to do so. This means each spouse will report their income and deductions separately on their own tax return. However, it's essential to evaluate the potential tax consequences and benefits of filing jointly or separately before making a decision.
