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The IRS defines two types of people that you can claim as a dependent on your taxes: “qualifying children” and “qualifying relative.” A qualifying child does include anyone who is your ...
Read: 3 Ways Smart People Save Money When Filing Their Taxes. Your minor children are obvious dependents, but the Internal Revenue Service considers some adults who rely on you for the majority of ...
If you are not married on December 31, your filing status could be either single or head of household — single if you have no dependents, and head of household if you have qualifying dependents.
In the United States, head of household is a filing status for individual United States taxpayers. It provides preferential tax rates and a larger standard deduction for single people caring for qualifying dependents.
Dependent Deductions Comparison. Filing Status. Standard Deduction as of 2020. Previous Standard Deduction for 2017 and Before. Single. $12,400. $6,350. Head of Household
An individual's tax liability depends upon two variables: the individual's filing status and the taxable income. [16] The status can determine the correct amount of tax, whether the taxpayer can take certain tax deductions or exemptions that could lower the final tax bill, and even whether one must file a return at all. [17]
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