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IRS Individuals - Filing Requirements > Filing Requirements - Filing Status > Flashcards

Filing Requirements - Filing Status Flashcards

1
Q

What does filing status affect?

A

Tax rate and standard deduction.

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2
Q

What are the filing status’?

A

Single, head of household, MFJ, MFS, qualifying widow(er).

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3
Q

If married at end of the year, you must file..?

A

MFJ or MFS.

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4
Q

Who can file MFJ?

A

Married by end of year AND both spouses agree to file a joint tax return.

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5
Q

Whats combined in a joint return?

A

Income and combined expenses.

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6
Q

Can you file a joint return if one partner had no income or deductions?

A

Yes

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7
Q

Are you considered married for entire tax year of you get married on December 31st?

A

Yes, if they are legally married/cohabiting and living apart not pursuant to a valid divorce decree or separate maintenance agreement.

Separated but the divorce decree isn’t final.

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8
Q

If a spouse dies, how is status determined?

A

Status is determined when the spouse dies. If the surviving spouse re-marries by the end of the tax year, the decedent is MFS.

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9
Q

If a spouse is a NRA, is a joint return allowed?

A

No, unless the spouse agrees to be taxed on their world wide income.

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10
Q

Do both spouses have to file for MFS?

A

One can file for head of household. The other can file as MFS.

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11
Q

If you file a joint return, can you amend the return and file separately?

A

If the time for filing a return expires, you cannot file a return seperately.

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12
Q

Can MFS/HOH, later amend returns and file a joint return?

A

Yes, payment of the joint tax return liability isn’t required at time of amendment.

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13
Q

If you obtain a marriage annulment and filed joint returns, what happens?

A

You will have to amend your returns and claim single, head of household. All prior tax years not closed by statue of limitations must be amended.

An annulment means you were never married in the first place.

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14
Q

Who signs a joint return? Who is liable?

A

Both spouses sign and are jointly and sevearably liable for the tax, interest and penalties.

If your spouse doesn’t pay their tax, the other spouse can become liable.

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15
Q

What’s aggregated in joint returns?

A

Income, deductions, credits.

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16
Q

Can you file a joint return with different accounting methods?

A

Yes

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17
Q

Can a joint return be filed with different tax years?

A

No

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18
Q

Can same sex couples file a joint return?

A

Yes, since 2013 supreme court ruling if they are married. It doesn’t apply to those in domestic partnerships or civil unions.

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19
Q

What is an injured spouse?

A

When a joint return is filed and only one is spouse owes a past due amount, the other is an injured spouse thats due a refund. The other spouse can get a refund that will otherwise be used to pay the past due amount.

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20
Q

To be considered an injured spouse:

A

File a joint return, have reported income, made /reported tax payments, claimed earned income credit, not required to pay a past due amount. Must file form 8379.

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21
Q

Innocent spouse relief

A

Generally both tax payers are required to pay the joint income tax, penalties and interest. A taxpayer may be relieved of part or all of the joint liability.

22
Q

Qualifying events for joint relief

A

Understatement of tax because a tax payer omitted income or claimed false deductions or credits. The innocent tax payer is unaware.

Divorced or no longer living with the spouse.

Given all of the facts and circumstances, its not fair to hold the other spouse liable.

23
Q

Related relief for innocent spouses include:

A

Separation of liability relief
Equitable relief
Relief from liability arrising from community property law.

24
Q

Married filing seperately

A

Account separately for income, deductions and credits.

25
Q

T/F Spouse uses their own funds to pay for joint property entitled to any deductible attributable to the payments when filing MFS.

A

True

26
Q

Many credits /Deductions not allowed on MFS return

A

Earned Income Tax Credit

27
Q

Non-tax reasons to file MFS

A

Prevent garnishment for taxes. Student loan calculation purposes.

28
Q

How long can you file as a qualifying widow?

A

2 years following death.

29
Q

Requirements for qualifying widow?

A

Elected if the surviving spouse didn’t remarry by the end of year. Qualified for MFJ. Maintained a household for the taxable year - furnished more than 50% of the cost of the house and the principle place of abode of qualifying dependent. Son or daughter, step son or daughter or adopted child.

30
Q

In the year of death of a spouse, do you file as a qualifying widow or as a joint return?

A

You file a joint return.

31
Q

Can you claim qualifying widow status of you have an adopted child? A step child? A foster child.

A

Adopted - Yes
Step - Yes
Foster - No

32
Q

3 conditions that must be met for claiming head of household

A

Filing status
Marital status
Household maintenance

33
Q

Head of house hold filing status

A

May not file as a surviving spouse

Must be unmarried on last day of year.

34
Q

Head of household - What is considered not married for tax purposes.

A

Not treated as married if the spouse is a NRA at any time during the tax year.

35
Q

Head of house hold - What % of household maintenance must the head of household pay in costs?

A

A principal place of abode for a qualifiying individual.

More than 50% of the cost of maintaining the household.

36
Q

What are the 8 costs included in head of household maintenance costs?

A

Property tax, mortgage interest, rent, utilities, upkeep, repair, property insurance, food consumed in-home.

37
Q

What are the 8 costs not included in household maintenance?

A 
Clothing
Education
Medical treatment
Life Insurance
Transportation
Vacations
Services by the taxpayer
Services by the dependent
38
Q

What qualifies as a qualifying child or relative?

A

Taxpayer with a dependent parent qualifies, even if the dependent doesn’t live with the taxpayer.

Qualifying child - Need not be the taxpayers dependent. All regular requirements are met and the custodial parent releases claim as dependent to the non-custodial parent per form 8332.

Otherwise, the child must maintain the same household except for temporary absenses.

39
Q

If married living apart, what are the requirements to claim head of household?

A

Live apart for 6 months.
Pay 50% of household maintenance
Have a qualifying child, foster child, or step child.

40
Q

Can two people in a house claim head of household?

A

Yes.

41
Q

Who qualifies for single?

A

Not married, does not qualify for other statuses.

42
Q

What is the taxable income?

A

AGI - (greater of itemized deductions or standard deduction)

43
Q

What schedule is filed for itemizing deductions?

A

Schedule A

44
Q

Can you amend your return from standard to itemized?

A

Yes

45
Q

Persons not allowed the standard deduction

A 
Person who itemized deduction
NRA
Short period return
Persons spouse itemizes deductions
Partnerships, estates and trusts
46
Q

Basic standard deduction for child under 19 and student under 24 that can be claimed as a dependent

A

Greater of $1,100 or (earned income + $350)

Up to $12,400

47
Q

Whats excluded from earned income?

A

Capital gains from sale of stock

Dividends

48
Q

What is the standard deduction amount for singles?

A

$12,400

49
Q

What is considered blind?

A

No better than 20/200 vision even with corrected lenses. Must become blind on or before the end of the year.

50
Q

How old do you have to be by the end of the tax year to get an additional deduction?

A

65 by the end of the year. If you die before your birthday, you don’t get the additional deduction.

51
Q

If blind and 65 by year-end, do you get 2x the amount of the additional deduction

A

Yes

IRS Individuals - Filing Requirements (6 decks)

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