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The head of household filing status was created in 1951 to acknowledge the additional financial burdens faced by single people caring for dependents. [ 3 ] [ 1 ] Consequently, it provides single parents and other people caring for qualifying dependents with a larger standard deduction and preferential tax rates compared to single filers ...
Plus, for a head of household filer this income level falls into the 12% tax bracket, significantly below the bracket that applies to single filers with this income.
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Determine if filing as head of household or single is better for you as an unmarried person and discover the qualifications and advantages of filing in each category.
Filing as a head of household can have substantial financial benefits over filing as a single status taxpayer. As a head of household, one may obtain a more generous tax brackets and larger standard deductions. [14] There are many special rules and exceptions applicable to head of household filing status. [15]
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A child-headed family or child-headed household is a family in which a minor has become the head of the household. They are most common in developing countries and areas of conflict, where the children's parents have been killed by conflict or disease. [ 1 ]
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