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It depends. Head of Household vs Married Filing Jointly would be based on several factors. You do not have to guess at this, you can start a return in TurboTax to test the current tax year. There is an option to Start a Return for Free. You can create an online account and enter information as if you are married but Do Not File The return. Compare the tax results.
There are a lot of tax breaks that apply to both Head of Household and Married Filing Joint.
For instance, the Earned Income Tax Credit is available to both Single and Married Filing Joint Taxpayers. So, being married with a combined income could lead to a lower Earned Income Credit if by combining, the income is significantly increased. The credit starts to phase out at certain income levels.
The EITC which is a refundable credit could reduce your tax to zero with any remaining unused credit refunded.
IRS has Established Income Limits for EITC. Combining your income as Married taxpayers could lower the amount you receive because the amount of credit is reduced as the income is higher.
For more details use this link: FACTS about the EITC
Use the links below for additional information about Filing Status:
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