• Frequently Asked Questions About Tax Filing Status

    Comments 3 Comments
    1. Unregistered's Avatar
      Unregistered -
      There are five filing statuses not four. Also, the amount of Earned Income Credit is the same for Single and Head of Household.
    1. Liss's Avatar
      Liss -
      Quote Originally Posted by Unregistered View Post
      There are five filing statuses not four. Also, the amount of Earned Income Credit is the same for Single and Head of Household.
      Yes, as it states, there are 5 statuses.

      No, the EIC for singles is $6,500 and the EIC for Head of Household for 2018 is $9,550.

      Attachment 17044
      Kelly Std Deduction
    1. Unregistered's Avatar
      Unregistered -
      Quote Originally Posted by Liss View Post
      Yes, as it states, there are 5 statuses.

      No, the EIC for singles is $6,500 and the EIC for Head of Household for 2018 is $9,550.

      Attachment 17044
      Kelly Std Deduction
      The earned income credit is not a flat amount but varies based on the taxpayer’s income and number of qualifying children. IRS publication 596 explains the earned income credit and the table for determining the credit begins on page 30 of the publication (https://www.irs.gov/pub/irs-pdf/p596.pdf#page30). A review of the table shows that the amount of the credit is the same for the single, head of household, and qualifying widower filing statuses and is generally greater for the married filing jointly filing status.

      Also, the amounts listed in your comment and your attachment are the standard deduction amounts that were scheduled to go into effect for the 2018 tax year. However, these amounts were changed with the passing of the Tax Cuts and Jobs Act.
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