Married couples are able to file joint income tax returns with the IRS and state taxing authorities. As of 2013, joint filing provides married taxpayers with a standard deduction of $12,200, or twice that of individual filers. Another tax benefit of marriage is that it creates a “family partnership” under federal tax laws, which allows the couple to divide business income among family members.Continue Reading
Married taxpayers also benefit by picking and choosing deductions and write-offs that one of them is entitled to. Working couples may also pick the most valuable employee benefits from their two plans. The right mixture of tax benefits from two employee benefit plans increases a couple’s tax savings in a variety of ways.
Married couples also receive greater charitable contributions deductions than individual taxpayers. If a spouse makes a considerable charitable contribution but does not have income of at least double the contribution amount, the excess contributions carry over to the following year.
In addition to these tax benefits, married couples also enjoy a streamlined tax filing process. Spouses filing one tax return satisfy both individual’s tax obligations with one filing and one fee.
In some cases, filing separate tax returns when married lowers the tax burden as a whole, especially if one spouse has experienced large medical bills in the previous year.Learn more about Income Tax
The IRS telephone numbers offering payers live assistance provide answers to questions about filing tax returns and responding to notices, although the IRS notes that the topics answered over the phones are more limited than those addressed on its website. Long wait times also limit the usefulness of the numbers.Full Answer >
People receive letters directing them to ID verification on the IRS website when the agency suspects identity theft on tax returns, according to the IRS. The returns have names and Social Security numbers of actual taxpayers. In order to verify their identities, individuals must accurately answer a number of questions.Full Answer >
People should file annual tax returns with the IRS to receive refunds and avoid allegations of fraud, advises Business Insider. When a person fails to file a required tax return, the IRS automatically classifies this as tax fraud, which is a federal crime. While few individuals caught not filing taxes are ultimately jailed, offenders can face stiff financial penalties.Full Answer >
As of April 2015, the IRS offers a service called Where's my Refund? to help taxpayers locate the status of their tax returns, according to the IRS website. Where's my Refund? is available through the IRS website and the mobile application IRS2Go.Full Answer >