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.

Single

The filing status used by an unmarried taxpayer who does not qualify for any other filing status.
References in periodicals archive ?
One example of this practice is Switzerland, where the tax rate structure for married taxpayers is different from single taxpayers both in the size of the brackets and in the numbers of brackets and their rates.
However, this contribution was limited and eventually phased out for single taxpayers whose modified Adjusted Gross Income (AGI) ranged between $95,000 and $110,000, and married joint filers with combined income between $150,000 and $160,000.
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.
Initial reactions to the court decision by tax professionals suggest that the ruling bodes well for single taxpayers.
For single taxpayers, I the amount is $1,450; however, if the taxpayer is married, the additional standard amount is reduced to $1,150.
On the other hand, a single taxpayer with MAGI of less than $200,000 will not pay the additional 3.
The new law increases the phaseout range for married taxpayers filing a joint return so that it is twice the range for single taxpayers.
Under the current federal income tax laws of the United States Of America, a married couple in which both spouses work (or otherwise has taxable income) generally pays more in federal income taxes than if they were not married and each filed their federal income tax returns as single taxpayers.
In 2000, single taxpayers with up to $26,250 in taxable income were in the 15% bracket, which jumps to $43,850 for joint filers.
Single taxpayers can take a $60 credit if they have adjusted gross incomes of $25,000 or less.
For those with higher incomes than these thresholds, the tax credit is reduced and is phased out completely for single taxpayers with a MAGI of $95,000 or more, and for married taxpayers with a MAGI of $170,000 or higher.
121, up to $250,000 for single taxpayers ($500,000 for a married couple filing jointly) of gain from the sale or exchange of a qualifying property may be excluded from gross income.