Separate tax returns

Separate tax returns

Tax returns of married persons who choose to file their returns individually, usually because this approach produces lower overall tax payments.

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.
References in periodicals archive ?
30 news conference that he and Hayes file separate tax returns, but on state disclosure forms the governor has indicated that Hayes is a member of his household, raising the possibility of tax law violations from which Kitzhaber derived a financial benefit.
Separate tax returns for income, properties and finances make it easy to disguise the size of an individual's wealth in Turkey, where tax evasion is widespread.
Because shareholders A and B filed separate tax returns and the fraudulent amounts reflected on shareholder A's return did not arise from his actions, the OCC advised that the general three-year assessment period applied to his return.
Rather than setting out a marriage penalty, this language simply appears to set out a specific allocation of the limitation amounts that must be used by married couples filing separate tax returns, thus implying that co-owners who are not married to one another may choose to allocate the limitation amounts among themselves in some other manner, such as according to percentage of ownership.
election of officers, annual board meetings, filing of separate tax returns, etc.
This means that both the corporation and you, personally, must file separate tax returns, often resulting in unnecessary double taxation.
But if you're married and file separate tax returns, you are not eligible to convert a traditional IRA to a Roth.
In the past we've been reluctant to endorse any Internet taxation plans because the still-young industry needed to grow before being burdened with the high cost of such a task as filing as many as 45 separate tax returns each year.
The prior tax schedule was retained for married taxpayers filing separate tax returns.
Investors usually choose to pay the lower withholding tax and avert filing separate tax returns, and an abolition of the tax was feared to have a negative effect on the stock market.
As investors usually opt to pay the lower withholding tax and avert filing separate tax returns, many commission members consider that the abolition of the withholding tax would further hurt the already reeling stock market by keeping small investors away.
In addition, the business names on information returns are not always identical to the names on corresponding tax returns and, indeed, numerous information returns would be generated in respect of income paid to subsidiaries that do not file separate tax returns (but, rather, whose income is included in a consolidated return).
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