Tax Filing

Selecting the right filing status for your taxes can save you hundreds of dollars. In general, married taxpayers who file jointly reap more benefits. However, there are certain circumstances that...

If you gave someone money as a gift, then you may have to file it on your taxes. To file gift money on your taxes, you must complete a gift tax form. To qualify you must have given at least...

Changing your filing status from single to married is one of the first things a new couple will be required to do. Thankfully, the process for filing a tax return together versus alone requires...

If you are a widow or widower, executor or other personal representative of someone who died and who also had financial assets or was a wage-earner, you will need to file a final tax return for...

If your spouse does not have a W2, it may mean several things. Ask why first. The answer will dictate what filing steps to take and which additional forms aside from a 1040 you may need.

If you own an IRA account and are over the age of 70-1/2, the government requires you to take a distribution on an annual basis. Known as a "required minimum distribution," or RMD, this amount...

Married taxpayers sometimes want or need to file separate tax returns rather than filing jointly. Most are unsure of how they should divide the income and deductions to utilize the Married Filing...

Generally, married couples benefit from married filing jointly status because some tax provisions discriminate against married filing separately (MFS) taxpayers. Some credits and deductions are...

Filing taxes for a deceased relative can be a sad task but the IRS does require a decedent's return be filed if he or she met the filing requirements during the year of death. Fortunately, the...

The Internal Revenue Service has a detailed process for filing a tax return for a deceased taxpayer. Before a tax return can be signed, the person responsible for signing the return must be...

After a divorce, figuring out the most mundane things can be difficult. Tax filing is one of those things. Filing head of household is the most preferred, because of the reduced tax rate and...

Although a person is deceased, his or her estate may be required to file a tax return. If you are the surviving spouse, administrator or executor of the estate, you are required to file a tax...

When a taxpayer dies, responsibility for filing the federal tax return rests on the spouse or the legally appointed personal representative (fiduciary) for the taxpayer. The fiduciary may also be...

Tax return filing status is a key element in preparing a tax return, but many have trouble determining which filing status to choose. The Internal Revenue Service (IRS) interprets tax legislation...

When a married couple file taxes separately, they lose certain tax benefits. For this reason, most couples file taxes jointly. There are, however, certain situations where it is beneficial for...

Filing income taxes can be confusing and irritating, especially if you have a complicated tax situation. Married couples are entitled to file taxes jointly in order to ease the burden of taxes,...

Completing IRS Form 709 is necessary if you make taxable gifts during the year. Although your beneficiaries will undoubtedly appreciate your generosity, it is your responsibility to report what...

Choosing the tax filing status on your income tax return will profoundly affect the amount you will deduct, owe or receive as a tax rebate. Before you pick the right tax filing status, study the...

Even if you are incarcerated, if you have a stream of income, they you are required to file a tax return. filing a tax return from jail or prison can be challenging, but if you follow some simple...

Tax season is right around the corner. Preparing for them now in December will help you to get ahead and file early. Most returns are relatively uncomplicated — but if you have had some...

The transfer of property between spouses, or former spouses, doesn't generally result in a recognized tax gain or loss. When property is transferred to a third party by one spouse for the benefit...

If you are married and legally separated, whether or not you are in the process of getting a divorce, you'll probably want to file a separate tax return from that of your spouse even though filing...

IRS Form 13844 is titled "Application For Reduced User Fee For Installment Agreements." Taxpayers whose annual income falls 250% below the poverty line as established annually by the United States...

Married people who live in one of nine community property states need to be especially careful when not filing a "married filing jointly" return.

File your taxes under the filing status that saves the most money. Your filing status determines your income tax rate and standard deduction.

File your taxes under the best filing status to save money. Your income tax rate and standard deduction are determined by your filing status.

The "married filing separately" status has high tax rates and few benefits. Yet there are good reasons for some married people not to file jointly.