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Married Filing Jointly
What Does
Married Filing Jointly
Mean?
When filing under the
married filing jointly
status, couples can
record their respective
incomes, exemptions and
deductions on the same
tax return.
You are considered married if you are legally married on the last day of the year. To file jointly, both you and your spouse must agree to file and sign a joint tax return.
The IRS advises, If you and your spouse decide to file a joint return, your tax may be lower than your combined tax for the other filing statuses. Also, your standard deduction (if you do not itemize deductions) may be higher, and you may qualify for tax benefits that do not apply to other filing statuses (IRS Publication 501, Married Filing Jointly).
Married filing jointly is best if only one spouse has a significant income. However, if both spouses work and the income and itemized deductions are large and very unequal, it may be more advantageous to file separately.
When filing jointly,
both you and your spouse
are equally responsible
for the return and the
taxes. If either one of
the spouses understates
the tax due, both are
equally liable for the
penalties unless the
other spouse claims he
or she was not aware of
the mistake and did not
benefit from it. The IRS
may at their will, grant
relief from joint
liability for taxes
through innocent spouse
relief, separation of
liability, or equitable
relief. Refer to
Publication 971
(Innocent Spouse
Relief).
The IRS cautions, Both spouses may be held responsible, jointly and individually for any tax, interest or penalty due on your joint return. Either spouse may be held responsible regardless of who had the income.
The Federal Defense of Marriage Act of 1996 defined marriage as a legal union between one man and one woman as husband and wife, and the word spouse refers only to a person of the opposite sex who is a husband or wife.
If your spouse died during the year, you may still file a joint return for that year. In the following years, you can file as a surviving spouse, as head of household, or as a single taxpayer.
Filing Joint versus Filing Separate
Generally it is more advantageous to file a joint return since married taxpayers who file separately are not eligible for many tax deductions and credits, and have higher tax rates.
Filing a separate return provides relief from joint liability for taxes. If you are unsure of the legality of your spouses income or income statements, it is advised to file separately.
