Filing Status

With regards to filing status, there are five. Most information regarding filing status can be found in Publication 501 (http://www.irs.gov/publications/p501/ar02.html#d0e1262) at the IRS website. Although we have given you the listing of the different filing statuses, we have defined the only two which are less commonly used.

a. Single,

b. Married Filing Jointly,

c. Married Filing Separately,

d. Head of Household, and

e. Qualifying Widow(er) With Dependent Child.

 

Head of household

This status is the trickiest one to follow. It has 4 components/requirements.

a. First, the individual is NOT married; is legally separated; or is married & has lived apart from his/her spouse for the last 6 months of the year at the close of the tax year.

b. The individual is NOT a Qualifying Widower.

c. The individual is NOT a Nonresident Alien (anyone other than a US Citizen or Green Card Holder).

d. Maintains a home that is a principle residence for either

      1. Son/daughter

      i. If he/she is unmarried, they don’t have to be a dependent.

      ii. If married, then they MUST be a dependent

      2. Dependent Parent – Not required to live with.

      3. Dependent Relative – Must live with. No cousins or foster parents allowed.

 

Qualifying Widower

This status has two components, one of which is a time requirement, interestingly.

a. Use of this status may be used for a period of 2 years following the year of death of the spouse.

b. The surviving spouse must maintain, for the whole entire taxable year, the houshold which is the principle place of abode of a son, stepson, daughter, or stepdaughter for whom the surviving spouse is entitle to a dependency exemption.

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2017 Annual Adjustment Amounts: Tax Rates, Deductions, & Exemptions;


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2016 Annual Adjustment Amounts: Tax Rates, Deductions, & Exemptions;

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2015 Annual Adjustment Amounts: Tax Rates, Deductions, & Exemptions;

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2014 Annual Adjustment Amounts: Tax Rates, Deductions, & Exemptions;

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Questions & Answers on NII & Additional Medicare Tax

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Are you living abroad and a dual citizen?? Click here.

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"OVDI" (Offshore Voluntary Disclosure Program) Remains Open For Those With Undisclosed Foreign Income/Assets;

Other Options other than OVDP remain open too, like Streamlined Procedures.

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DNA India, a leading Mumbai daily, quotes Vimlan Tax Services. Click here...

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Mileage Rates for 2016 are here..

  1. 54 cents per mile for business miles driven (down from 57.5 cents in 2015);
  2. 19 cents per mile driven for medical or moving purposes;
  3. 14 cents per mile driven in service of charitable organizations;


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Mileage Rates for 2015 are here..

  1. 57.5 cents per mile for business miles driven (up from 56 cents in 2014);
  2. 23 cents per mile driven for medical or moving purposes;
  3. 14 cents per mile driven in service of charitable organizations;


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International Income Tax Liability...


Worldwide Income Reporting and Foreign Accounts

Most people filing US tax returns know if they are a US Citizen or a Greencard holder, but most do not know if they are a US "tax" resident. You may read the April 2011 E-newsletter we put out which explains the classifications mentioned above or call our office to request an appointment with a qualified tax advisor to discuss your case. Our December 2015 E-newsletter is out as well.