separate return

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.

separate return

A tax return filed separately by each spouse, in which income and deductions attributable to that spouse are listed. Spouses may choose to file separate returns or to file a joint return combining incomes and deductions. Compare joint return.
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E Hubli-Vasco Londa-Miraj Hubli Bellary & Gadag Bijapur Sections By Contractor Truck Capacity Of 10mt On Door Delivery Basis And Vice Varsa Collection Of Empty Barrels To Gsd Ubl Separate Return Trip
9 percent on wages in excess of $200,000 for an individual filing as single or head of household, $250,000 for a married couple, or $125,000 for a married individual filing a separate return.
It has an analog in the separate return limitation year (SRLY) rules of the federal consolidated return regulations under which NOLs of a corporation that joins an existing consolidated return group are used only against post-acquisition income of that corporation.
The husband objected and argued that the initial 1995 joint return was valid and that the wife's separate return should be rejected.
The rules governing the filing of consolidated tax returns by affiliated groups currently supply guidance on (1) the application of estimated tax payments by individual members for the group's consolidated tax liability, (2) joint and several liability of members for the group's tax liability, (3) the application of loss and credit carrybacks to, and carryovers from, separate return years, and (4) other administrative issues affecting the determination and allocation of tax liability of an affiliated group filing a consolidated return.
269,382 and 384 (as well as the consolidated return separate return limitation year rules)), each of which was enacted to prevent a perceived abuse.
This election was typically made in order to increase the parent's basis in the stock of a subsidiary for the undistributed E&P generated in pre-1966 consolidated return years or in post-affiliation separate return years ("non-SRLY SRYs").
The first project (CO-132-87 CO-78-90) revamps the separate return limitation year (SRLY) rules affecting loss carryovers under section 382.
69) Of course, if a separate return is filed, the distributee's basis in the distributor's stock is generally not reduced as a result of the distribution (unless section 1059 applies).
In direct response to language in the Rite Aid decision suggesting otherwise, this amendment confirms that consolidated return regulations may provide rules treating corporations differently than they would be treated in a separate return context.
The proposed regulations would substantially alter the rules in respect of distributions from pre-1966 consolidated return year E&P, as well as for E&P generated in separate return years of an affiliated group.