Filing Status

AAA

DEFINITION of 'Filing Status'

A category that defines the type of tax return form an individual will use. Filing status is closely tied to marital status.

The five filing statuses are:

1. Single filer
2. Married person filing jointly or surviving spouse
3. Married person filing separately
4. Head of household
5. Qualifying window(er) with dependent child

INVESTOPEDIA EXPLAINS 'Filing Status'

The filing status is important because a person's tax bracket (and therefore the amount he or she must pay) is determined by marital status, number of children, occupation and several other factors. You must file your status honestly, or it will be considered fraudulent and penalties will be assessed.

RELATED TERMS
  1. Joint Return Test

    One of the tests administered by the IRS that potential dependents ...
  2. Single Filer

    The filing status used by a taxpayer who is unmarried and does ...
  3. Qualified Widow Or Widower

    The least common of the five types of tax filing status each ...
  4. Separate Return

    A separate Form 1040, or a variant thereof, filed by a married ...
  5. Qualified Mortgage Insurance Premium

    Premium paid by homeowners on mortgage insurance for FHA loans ...
  6. Head Of Household

    A status held by the person in a household who is running the ...
Related Articles
  1. Tax Tips For The Individual Investor
    Retirement

    Tax Tips For The Individual Investor

  2. Retirement Plan Tax Form 5329: When ...
    Taxes

    Retirement Plan Tax Form 5329: When ...

  3. Saver's Tax Credit: A Retirement Savings ...
    Savings

    Saver's Tax Credit: A Retirement Savings ...

  4. Retirement Plan Tax Form 8606: When ...
    Taxes

    Retirement Plan Tax Form 8606: When ...

comments powered by Disqus
Hot Definitions
  1. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  2. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  3. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  4. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
  5. Over The Counter

    A security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, etc. The phrase "over-the-counter" ...
  6. Earnings Before Interest After Taxes - EBIAT

    A financial measure that is an indicator of a company's operating performance. EBIAT, which is equivalent to after-tax EBIT ...
Trading Center