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IRS Married Filing Separately

Married Filing Separately Rules

If you are married on the last day of the tax year, but prefer to file a separate tax return from your husband or wife, the IRS allows you to do so. However, if married and filing separate tax returns, you and your spouse may each end up paying more in federal income taxes than you would when filing a joint tax return. Not only will each of you be subject to higher tax rates, but the IRS also restricts many of your tax deductions and tax credits.

Married Filing Separate Tax Returns Can Increase Tax Bill

The benefit of filing a joint return with your spouse is the larger standard deduction and, most importantly, the lower rates of tax your combined income is subject to. But if you are married filing separate tax returns, then each of you will pay tax as if you were each individual single taxpayers. And one of the major drawbacks to filing separate returns is that both of you are precluded from claiming many of the tax credits that could otherwise reduce your federal income tax bill at the end of the year. The tax credits include the earned income tax credit, adoption expenses, the child and dependent care credit as well as both the lifetime learning and American opportunity credits that cover the educational expenses for you and your dependents.

Filing Separate Tax Returns Can Limit Your Standard Deductions

When you are married filing separately, the IRS only allows one of you to itemize deductions. If one spouse decides to itemize on their separate return, then the other spouse cannot itemize or claim the standard deduction. Practically, this means that you will only be able to minimize your tax bill with a personal exemption.

Reference: IRS Publication 501-Exemptions, Standard Deduction, and Filing Information