| The five different filing statuses recognized by the IRS | | | | household for more than half the year. |
| are as follows. | | | | Qualifying Widow(er) with Dependent Child - in order to |
| Single - according to the IRS your filing status is single | | | | qualify for this filing status you must have a qualifying |
| if you are either unmarried or legally separated from a | | | | dependent child for two years following the year your |
| former spouse on the last day of the tax year. | | | | spouse died. |
| Therefore if you were legally single on or before | | | | Once you are legally married, you can no longer file as |
| December 31st, 2007 then you will need to file as | | | | single. You must file either Married Filing Jointly, Married |
| single on your tax return. | | | | Filing Separately, or Head of Household. Please keep in |
| Married Filing Jointly - in order to be considered married | | | | mind that there are tax consequences that arise from |
| by the IRS a man and woman must have their | | | | being married. If only one spouse earns a salary then |
| marriage legally recognized by the federal government. | | | | you actually get a marriage bonus. However, if both |
| You can choose to file jointly if you and your spouse | | | | people are wage earners, then you face the marriage |
| agree to file a joint return. However, you will include all | | | | penalty. This is because when you file jointly your |
| combined income, exemptions, and deductions on your | | | | income is taxed at your highest marginal rate. |
| return. | | | | In 2003, Congress attempted to fix the marriage |
| Married Filing Separately - if you are married you can | | | | penalty with an increase in the standard deduction for |
| also chose to file Married Filing Separately. However, | | | | married couples filing jointly. The amount was increase |
| this status generally has the highest tax liability and | | | | to $9,700 for the 2004 tax year, then to $10,000 for |
| couples can often save hundreds by choosing to file a | | | | the 2005 tax year. |
| joint return. If you are unsure if you would be better off | | | | Upon getting married, there are a number of things you |
| filing separated or jointly then you may want to speak | | | | will need to consider for tax purposes. First of all, one |
| to a tax professional. | | | | person is probably going to need to change their |
| Head of Household - if you qualify to file as a Head of | | | | address and/or name with the IRS and Social Security |
| Household your tax liability will likely be lower then filing | | | | Administration. To do so you will need to file form |
| as Single. However you must meet certain criteria | | | | SS-5 with the Social Security Administration and IRS |
| such as having a qualifying individual live in your | | | | Form 8822 with the federal government. |