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.
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Example 2: J and K are fifing separate tax returns in 2014.
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.
APHIS Tax return (Passenger and Aircraft separate tax returns):
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.
* Sell capital-gain property before the end of the year if your capital losses for the year exceed the sum of any capital gains you have realized plus $3,000 ($1,500 for individuals filing married filing separate tax returns).
* Corporate formalities (e.g., election of officers, annual board meetings, filing of separate tax returns, etc.) are observed for each entity.
But if you're married and file separate tax returns, you are not eligible to convert a traditional IRA to a Roth.
If the requirements for separate liability relief are met, the requesting spouse can elect to have the erroneous items allocated between the spouses as if they had filed separate tax returns. Erroneous items are allocated to the spouse who earned the income or owned the property that produced the erroneous item, without regard to community property laws.
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. The tax rates and the standard deduction (also called the " zero Bracket Amount" prior to 1987) for single taxpayers were set at approximately sixty percent of the tax rates and the standard deduction for m arried taxpayers filing a joint tax return.
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.
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