Describe the four filing status classifications

Question

What will be an ideal response?

Answer 1

Answer: Married Filing Jointly and Surviving Spouses: You file a joint return with your spouse, combining incomes and deductions into a single return. If your spouse dies, you can still qualify for this status for up to two years after the year in which your spouse died if you have a dependent child living with you, you pay more than half the cost of keeping up your home, and you are not remarried. Of course, if you remarry, you can file a joint return with your new spouse.
Married Filing Separately: Married couples also have the choice of filing separately.It is hard to say ahead of time whether you will do better filing jointly or separately. The best idea is to figure your taxes both ways and, of course, go with the lower number. This status is often used when a couple is separated or in the process of getting a divorce.
Head of Household: Head of household status applies to someone who is unmarried and has at least one child or relative living with him or her. The advantage of this status is that your tax rate will be lower and your standard deduction will be higher than if you had filed with single status. To qualify for head of household status, you must be unmarried on the last day of the tax year, have paid more than half the cost of keeping up your home, and have had a child or dependent live with you for at least half of the year.