This just might be the worst tax-filing status to claim

Indonesia Berita Berita

This just might be the worst tax-filing status to claim
Indonesia Berita Terbaru,Indonesia Berita utama
  • 📰 CNBC
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 72%

If you're in the middle of a break-up and you don't trust your spouse, it might make sense to consider filing separate income tax returns with the IRS. Just make sure you aren't losing a slate of credits in the process.

If you and your estranged spouse are leading separate lives in separate homes, you might be thinking of filing your taxes that way, too.

In the 2016 tax year, the IRS received 3.07 million income tax returns using the"married filing separately" status.Be aware that just because you can turn in separate tax returns to the IRS doesn't mean that you should. Here, giving up the responsibility for the accuracy of your spouse's return trumps any tax savings you'd otherwise get from filing jointly, he said.Under the new tax law, filers who itemize on their returns may claim medical expenses only to the extent they exceed 7.5 percent of adjusted gross income for 2018.

As a result, people who might have itemized in previous tax years might be better off taking the standard deduction. For couples filing separately, that's not always an option. Couples in which each partner files a separate Form 1040 are also precluded from claiming the student loan interest deduction, which allows you to deduct up to $2,500 in interest paid during the year.

Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut:

CNBC /  🏆 12. in US

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Congressional Proposal Would Extend The Tax Filing Season By Five WeeksCongressional Proposal Would Extend The Tax Filing Season By Five WeeksRemember that earlier chatter suggesting that Congress should extend the tax filing season? There’s now a serious proposal to do just that.
Baca lebih lajut »

Congressional Proposal Would Extend The Tax Filing Season By Five WeeksCongressional Proposal Would Extend The Tax Filing Season By Five WeeksRemember that earlier chatter suggesting that Congress should extend the tax filing season? There’s now a serious proposal to do just that.
Baca lebih lajut »

Congressional Proposal Would Extend The Tax Filing Season By Five WeeksCongressional Proposal Would Extend The Tax Filing Season By Five WeeksRemember that earlier chatter suggesting that Congress should extend the tax filing season? There’s now a serious proposal to do just that.
Baca lebih lajut »

Congressional Proposal Would Extend The Tax Filing Season By Five WeeksCongressional Proposal Would Extend The Tax Filing Season By Five WeeksRemember that earlier chatter suggesting that Congress should extend the tax filing season? There’s now a serious proposal to do just that.
Baca lebih lajut »

Spotify claims Apple harms consumers, stifles rivals: files complaint with EU regulatorsSpotify claims Apple harms consumers, stifles rivals: files complaint with EU regulatorsSpotify CEO claims Apple “introduced rules to the App Store that purposely limit choice and stifle innovation at the expense of the user experience
Baca lebih lajut »

Analysis | Larry Kudlow’s claim that ‘we have virtually paid for’ Trump’s tax cutAnalysis | Larry Kudlow’s claim that ‘we have virtually paid for’ Trump’s tax cutFact Checker: Larry Kudlow’s claim that 'we have virtually paid for' Trump’s tax cut
Baca lebih lajut »

The IRS has $1.4 billion in tax refunds waiting for people to claimThe IRS has $1.4 billion in tax refunds waiting for people to claimThe clock is ticking on tax refunds from 2015. More than 1 million taxpayers are owed money from the IRS and still haven't collected. Here's what you should know.
Baca lebih lajut »

The Worst Crime In College Admissions History Exemplifies The Worst ParentingThe Worst Crime In College Admissions History Exemplifies The Worst ParentingAt its heart, this story is about people choosing status and money over their duties to the wellbeing of students—and the racketeers willing to enable them.
Baca lebih lajut »

The Worst Crime In College Admissions History Exemplifies The Worst ParentingThe Worst Crime In College Admissions History Exemplifies The Worst ParentingThere is already stress and concern over unfairness in the college process—and imposter syndrome can be debilitating for any student. But knowing or suspecting that admission truly was based on false pretenses will only make it worse
Baca lebih lajut »



Render Time: 2025-03-16 21:53:28