Married Filing Separately

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Married Filing Separately

A filing status in which a married couple files individual tax returns instead of a single return. When two spouses file separately, each is taxed like a single individual. This usually results in a higher combined tax liability, but it may be advantageous if one spouse has significantly higher expenses or deductions.

Married Filing Separately

A filing status that can be used by married taxpayers who choose to record their respective incomes, deductions, and credits on separate individual tax returns.
References in periodicals archive ?
If the child received qualified dividends or capital gain distributions, the election may result in a higher tax than if a separate tax return for the child was filed.
The measure is yet more administration for property businesses since, at present, companies with affected properties must complete a separate tax return to claim relief per property.
A partnership requires a federal tax identification number even when there are no employees, potentially registering the business with the state for a fee, and a separate tax return for the business.
The bank tells me I need to get a tax identification number and file a separate tax return for my child's Special Needs Trust.
2008-8, proposed guidance about how a qualifying cell could make a Section 953(d) "domestic" election and file a separate tax return.
If you operate as an incorporated company, you would have to file a separate tax return for the corporation and would almost certainly have an accountant or other financial professional involved in that process.
There is no need to prepare a separate tax return for each single-owner LLC.
A corporation must file a separate tax return, unlike a single-member LLC, but corporate officers have long been allowed to file an exemption from workers' compensation, whereas members of an LLC only recently (October 2003) became allowed to file an exemption, so the corporate entity will usually be preferred over a limited liability company.
The IRS should consider excluding transactions subject to such separate tax return disclosure statements from the disclosure rules of section 6011.
05% withholding tax on the value of share sales, whether or not they have made gains, or the 26% tax on the annual total of their capital gains by filing a separate tax return.
05% withholding tax on the value of share sales, whether or not they have gained, or a 26% tax on the annual total of their capital gains by filing a separate tax return.
05% withholding tax on the value of share sales -- regardless of whether they have gained or lost on the sales -- or paying a 26% tax on their annual total of capital gains by filing a separate tax return.

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