Last year, my husband and I filed injured spouse because he owes for student loans and he owed child support. So he didn't get a refund, but I did. It took over three months to get our return back. I don't know too much about income taxes. A co-worker said we should do married filing separately. I just don't know the difference between injured spouse and married filing separately.
2007-02-21 01:54:31 · 5 answers · asked by Erica L 1 in Business & Finance ➔ Taxes ➔ United States
Injured spouse means you are asking the IRS not to keep any of your refund to pay down your husband's past debts. If they allow it, they will keep your husband's portion of the refund and give you yours. Married filing separately means that you have chosen to keep your tax situtation completely separate from your husband's. You would not have to ask for injured spouse status and the IRS could not keep any of your refund. However, you will pay a higher tax as married filing separate and certain credits are completely eliminated, such as the child tax credit (if you have children that's a valuable credit), and the earned income credit, etc. Lastly, when you file married filing separate, if one spouse itemizes, the other spouse also has to itemize even if he/she has no itemizeable deductions. This means losing the standard deduction of $5,150. Not a good thing. Generally, it is much much better to file married filing joint than married filing separate. I did a tax return the other day where if the person had filed MFS they would have owed almost $1k. Filing MFJ, they got refunded several thousand. Any competent tax preparer should be able to give you an estimate for each filing status. Remember also to check how your husband will make out each way. Good luck.
2007-02-21 02:33:37 · answer #1 · answered by Lilly 3 · 1⤊ 0⤋
You can file separately, but you will pay much higher taxes in most cases.
File the Injured Spouse claim just as you did last year. It does take a little while to process, but you'll come out best that way. You'll get your portion of the refund, and he'll pay down his debt faster.
2007-02-21 02:21:32 · answer #2 · answered by Bostonian In MO 7 · 0⤊ 0⤋
You can file separately...no problem. Just look at the top of the form and it gives you this option. It treats you both as separate tax payers....file on line for a quicker return, if you can.
2007-02-21 02:00:47 · answer #3 · answered by Anonymous · 0⤊ 1⤋
the diffrence is you will get a refund yet he wont yet you both have filed with him filing injured spouse it appers to the irs like he never filed last year did you know student loan debt and child support debt i stax deductible? married filing seperatly gives you lower deductions and may actaully be bad for you answered by a cpa good luck
2007-02-21 02:00:12 · answer #4 · answered by Mark R 3 · 0⤊ 2⤋
you the two document married mutually or one after the different if it would artwork on your benefit in respective of your pupil own loan to document one after the different, that's no longer a subject he won't be able to document head of substantial different and young toddlers, he has to document married one after the different as you do, and confident, he can declare his own toddlers the only subject is you the two could document a similar way, the two primary deduction or itemized deduction and it rather is the place it is going to become a subject each so often for submitting one after the different additionally submitting one after the different disallows another credit which you're eligible for there is not any question, it rather is the two married, mutually or one after the different, you haven't any longer have been given the different determination
2016-11-24 21:54:41 · answer #5 · answered by ? 4 · 0⤊ 0⤋