Single

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Single

In American taxation, the filing status for a legally unmarried person who does not qualify for any other filing status. In other words, single is the default filing status. This may affects one's tax liability; for example, single filers have lower income limits for most exemptions.
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Single

The filing status used by an unmarried taxpayer who does not qualify for any other filing status.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary
References in periodicals archive ?
In 2017, a single individual's deductible contribution phased out between $62,000 and $72,000 of MAGI, while for married individuals filing jointly who were both participating in employer-sponsored retirement plans, it phased out between $99,000 and $119,000, far less than twice that of a single taxpayer. Under the TCJA, the phaseout ranges in 2018 have increased slightly, to $63,000$73,000 for singles and to $101,000$121,000 for married filing jointly, and clearly remain disproportionate.
(26) Currently, taxpayers who sell a home that they have lived in for two of the last five years are allowed to exclude the following amounts of capital gains on the sale: $500,000 if married filing jointly; and $250,000 if filing as a single taxpayer. (27) For example, if a taxpayer has a basis of $750,000 in a town home purchased in Alexandria, Virginia and that taxpayer later goes into arrears on his mortgage and has $350,000 of indebtedness discharged, he can exclude that amount from gross income.
For example, in Belgium the size of the basic personal allowance is reduced for married taxpayers to EUR 4,610 relative to EUR 5,570 for single taxpayers. In Portugal the size of the tax credit is increased for a married taxpayer to EUR 356.60, from EUR 213.96 for single taxpayers.
Changing this assumption does impact the findings; therefore, we also simulate the tax returns of a single taxpayer with no dependents for comparison purposes.
By 2008, the 15 percent bracket for joint filers widens to twice the single taxpayers' range, making the limits fair and equal.
Tax Year 28% 31% 36% 39.6% 2001 27.5% 30.5% 35.5% 39.1% 2002 27.0% 30.0% 35.0% 38.6% 2003 27.0% 30.0% 35.0% 38.6% 2004 26.0% 29.0% 34.0% 37.6% 2005 26.0% 29.0% 34.0% 37.6% 2006 25.0% 28.0% 33.0% 35.0% Single Taxpayers (7) If taxable income is: The tax is: but not of the amount Over-- over-- over-- $0 $26,250 15% $0 26,250 63,550 $3,937.50 + 28% 26,250 63,550 132,600 14,381.50 + 31% 63,550 132,600 288,350 35,787.00 + 36% 132,600 288,350 ...
In 2002 and 2003, single taxpayers with adjusted gross income up to $65,000 ($130,000 on joint returns) would receive a maximum deduction of $3,000 per year.
* For 2018: $45,000 for single taxpayers, $60,000 for married taxpayers filing jointly, and $30,000 for married taxpayers filing separately
Initial reactions to the court decision by tax professionals suggest that the ruling bodes well for single taxpayers.
The tax credit would be available to single taxpayers with $100,000 or less in adjusted gross income (AGI) and joint-filing couples with $250,000 or less in AGI.
For example, single taxpayers reach the 39.6 percent tax bracket when taxable income is more than $400.000, but trusts pay a 39.6 percent tax on income more than S11,950.