Mar 10, 2011

Your Tax Filing Status - Associated Content from Yahoo! -

Your Tax Filing Status - Associated Content from Yahoo! -

Your tax filing status provides the IRS and you one of the most basic pieces of information about how you should be taxed each year on the income you earn or receive. As a result, making sure you use the right status each year can mean the difference of hundreds to thousands of dollars, depending on your specific tax situation.

For the most part, the categories are pretty straightforward. They include:

* Married Filing Jointly (which is both you and your spouse reporting equally on the same tax income filing)
* Married Filing Separate (you're filing your own tax filing and your spouse does his or her own, so they need to be coordinated)
* Single (you're an individual filing tax income reporting and you're responsible for no one else)
* Head of Household (you're the main income earner and everyone in the house depends on you financially to...Go here for the rest.

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