Why File a Joint Tax Return?

In the United States, married couples can choose to file a joint tax return or separate tax returns. For most couples, filing a joint return results in lower taxes than filing separately.

Tax Rates

Tax rates are lower for couples filing a joint return.

Deductions

On a joint return, you get a larger standard deduction if you are not itemizing deductions. Also, combining the deductions of two people make it more likely you will have enough deductions to itemize.

Credits

Generally, you can claim some credits and adjustments, such as the child and dependent care credit, adoption expense credit, lifetime learning credit, and qualified educational loan interest, only if you file a joint tax return.

Other Advantages

Filing a joint return costs less and takes less time to complete than filing two separate returns. Also, if one spouse does not have income, you can still contribute to an Individual Retirement Account (IRA) for that person and take that deduction only if you file a joint return

Disadvantages

The main disadvantage to filing a joint return is that both people have full responsibility for the tax return information and any taxes, penalties and interest due from the tax return. Also, the IRS can withhold your refund to pay your spouse's financial obligations, such as unpaid child support or default on a student loan.

References

• Marriage and Filing Your Federal Tax Return
• Tax filing status--are joint tax returns always best?