Can a married couple still file taxes separately?
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I was just wondering if my fiance and I are getting back more money in taxes than we would if we got married.
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Answer:
yes but why would you want to , the tax break would mean you got more money coming back to you .
swordlor... at Yahoo! Answers Visit the source
Other answers
I married couple can use the "Married Filing Separate" filing status. The MFS status is rarely advantageous and is used most often when one of the two parties doesn't trust the other party. Many of the credits available to "Married Filing Joint" filers are not available to MFS filers. The education credit, Earned Income Credit, etc... Good luck!
Adios
Yes, but I strongly discourage it, because you lose a lot of credits, like Earned Income Credit, Child Tax Credit, and a few more. Most of my clients want to file MFS (Married filing separately)b/c the other owes back taxes, child support or student loans, but now you can file what is called an injured spouse claim on a joint return. It basically says, ok, I made 60% of the money, so I get 60% of the joint refund. They take the other part and apply it to the other person's debt. It does take about 8-12 weeks for the IRS to process it, but usually, you still get more money back than if you file MFS.
turtle 542
YES
WC
If you are married, you can still file seperately, but you should look at filing together. Unless one of you makes a whole lot of money and the other doesn't make so much, filing together would give you a better tax break.
shirley_corsini
with out a doubt you are. When you get married or are considered common law they add you wages together and take way more out because "you get more money all year"
gingersnappz
Yes, Status is Married filing separately. Penalty is enormous. If you are thinking of doing this, calculate your taxes both ways before deciding. (You should not be getting money back, if you are you are giving the government an interest free loan. Adjust your withholding)
Bob S
yes i file seperately every year you get back what taxes you put in from work and if you have kids you get money back from that also i dont know your work situation but the person filing your taxes can tell you if you will get more back by filing alone or together try going online to HRblock they can answer questions about that I file my kids on my taxes so i get way more money than he does.
barbieQ
You can file separatley but you get a tax break for being married, so you would in fact get more money back filing jointly.
10 pts for me?
Yes! In some cases, Taxes should be computed both ways, jointly and separately. If you are "not married", you cannot file jointly. If you will get more refund by not marrying this year, so be it. Is it enough to make a difference? Our great tax laws. Figure it both ways!
ed
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