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There are credits that are eliminated by filing separately. You can claim child tax credit, but not the dependent care credit. EIC is also eliminated when filing separately, as well as other credits.
If you are seeing MFS on your paycheck stub, you can check with your employer and update your W4. It will not affect the filing status you use on your return.
Filing jointly is almost always more advantageous.
I assume you are talking about the filing status you mark on your W4. This question doesn't have a simple answer. We used to be able to manipulate our withholdings when we had exemptions to adjust on our W4, but as part of the Tax Cuts and Jobs Act, the IRS and Treasury adjusted the tax withholding tables, which affects the amount of income taxes withheld from your pay and exemptions are no longer applicable.
My suggestion is to use the IRS Tax Withholding Estimator here.
I was wondering bc I read that I couldn’t claim child tax credit or EIC if it said married filing separately. We typically filing jointly so I’m not sure why my check said filing separately.
There are credits that are eliminated by filing separately. You can claim child tax credit, but not the dependent care credit. EIC is also eliminated when filing separately, as well as other credits.
If you are seeing MFS on your paycheck stub, you can check with your employer and update your W4. It will not affect the filing status you use on your return.
Filing jointly is almost always more advantageous.
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