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Head of Household. Head of Household is a filing status for individual United States taxpayers. It provides preferential tax rates and a larger standard deduction for single people caring for qualifying dependents. To use the Head of Household filing status, a taxpayer must: Be unmarried or considered unmarried at the end of the year.
Plus, for a head of household filer this income level falls into the 12% tax bracket, significantly below the bracket that applies to single filers with this income.
Filing as single means you are unmarried, divorced or legally separated. Filing as head of household means you are unmarried and have at least one qualifying dependent. If you qualify to file as ...
The head of household status can lead to a lower taxable income and greater potential refund, but to qualify, you must meet certain criteria.
The United States federal earned income tax credit or earned income credit (EITC or EIC) is a refundable tax credit for low- to moderate-income working individuals and couples, particularly those with children. The amount of EITC benefit depends on a recipient's income and number of children. Low-income adults with no children are eligible. [1]
Filing as a head of household can have substantial financial benefits over filing as a single status taxpayer. As a head of household, one may obtain a more generous tax brackets and larger standard deductions. [14] There are many special rules and exceptions applicable to head of household filing status. [15]
Definition of Head of Household. Head of household is a filing status the IRS uses to determine what tax bracket, tax credits and responsibilities apply to you during the course of a tax year. To ...
There are currently five filing statuses for filing federal individual income taxes: single, married filing jointly, married filing separately, head of household, and qualifying widow(er). [19] The filing status used is important for determining which deductions and credits the taxpayer qualifies for.