Contrast the Tax Consequences Resulting from the Following Filing Status

question 73

Essay

Contrast the tax consequences resulting from the following filing status situations:
a. Married filing jointly versus married filing separately.
a. Married persons filing jointly have a number of tax elections available to them that cannot be chosen if they file separate returns. For example, the credit for child and dependent care expenses and the earned income credit are not available unless married persons file joint returns.
b. Married filing separately versus single.
c. Married filing separately versus abandoned spouse status.

---

Definitions:

Finger Tapping

A simple motor task used in psychological and neurological tests to assess motor speed, coordination, and sometimes cognitive abilities.

Western Industrialized Countries

Nations in the Western Hemisphere that have advanced systems of production, transportation, and communication, characterized by a high standard of living.

Customer Service

Assistance and advice provided by a company to those people who buy or use its products or services.

Diversity Management

The strategic practice of acknowledging, valuing, and leveraging differences among people within an organization or community to achieve better outcomes.