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The IRS provides five options: Single, married filing jointly, married filing separately, head of household and qualifying widow or widower with dependent child.
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The head of household status can lead to a lower taxable income and greater potential refund, but to qualify, you must meet certain criteria.
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]
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 ...
The origin of the current rate schedules is the Internal Revenue Code of 1986 (IRC), [2] [3] which is separately published as Title 26 of the United States Code. [4] With that law, the U.S. Congress created four types of rate tables, all of which are based on a taxpayer's filing status (e.g., "married individuals filing joint returns," "heads of households").
How the IRS handles instances of two divorced parents claiming head of household status depends on the details. Specifically, it depends on which child each parent is claiming on their taxes.
Under United States tax law, the standard deduction is a dollar amount that non-itemizers may subtract from their income before income tax (but not other kinds of tax, such as payroll tax) is applied.
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