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  2. Tax Filing: Head of Household Versus Single

    For example, in tax year 2024 the head of household 12% tax bracket is $63,100 (which is up from $59,850 in 2023) of taxable income compared with just $47,150 for single filers (which is up from ...

  3. Head of Household - Wikipedia

    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.

  4. Guide To Filing Taxes as Head of Household vs. Single

    Determine if filing as head of household or single is better for you as an unmarried person and discover the qualifications and advantages of filing in each category. Guide To Filing Taxes as Head ...

  5. Earned income tax credit - Wikipedia

    Tax credit equals $0.34 for each dollar of earned income for income up to $10,540. For income between $10,540 and $19,330, the tax credit is a constant "plateau" at $3,584. For income between $19,330 and $41,765, the tax credit decreases by $0.1598 for each dollar earned over $19,330. For income over $41,765, the tax credit is zero.

  6. What is Earned Income Tax Credit and How to Qualify - AOL

    To qualify for the EITC for the 2021 tax year, you must: Have earned an income under $57,414. Have investment income below $10,000. Have a valid Social Security Number. Be a U.S. citizen or ...

  7. Filing status - Wikipedia

    Filing status depends in part on marital status and family situation. [2] There are five possible filing status categories: single individual, married person filing jointly or surviving spouse, married person filing separately, head of household, and qualifying widow (er) with dependent children. [1] A taxpayer who qualifies for more than one ...

  8. Earned Income Credit Table: Find Out If You Qualify - AOL

    Head of Household. $15,820. ... $47,646. $53,330. $56,844. Information accurate as of Feb. 19, 2021. The earned income tax credit gives low-income taxpayers an extra credit on their tax return as ...

  9. Income tax in the United States - Wikipedia

    As of 2010, 68.8% of federal individual tax receipts, including payroll taxes, were paid by the top 20% of taxpayers by income group, which earned 50% of all household income. The top 1%, which took home 19.3%, paid 24.2% whereas the bottom 20% paid 0.4% due to deductions and the earned income tax credit.

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