Changing filing status

joy1961

For 21 years my husband and I have filed as married filing jointly. He is employed outside the home . He makes 43,000 a year . I am on Social Security disability , and I'm also self-employed . I make 16,000 a year between Social Security and self-employment . I do not have any taxes taken out of my 16,000 I receive a year . Would it be to our advantage for both of us to switch to filing single ? Would this cause us any problems with the IRS ? Would this make us more likely to be audited ?

MeganC

Hi Joy1961,

Thanks for your question! Since you’re married, you can’t file as “Single,” but you can choose between “Married Filing Jointly” (MFJ) or “Married Filing Separately” (MFS). Filing jointly usually offers the most benefits, like a higher standard deduction and access to credits such as the Earned Income Tax Credit.

To determine the most beneficial filing status for your situation, you might find the IRS’s https://www.irs.gov/help/ita/what-is-my-filing-status helpful. This tool guides you through a series of questions to identify the appropriate filing status based on your circumstances.