what does schedue z stand for with the irs tax income?

Question

it says schedule z is for "head of household" how is that different than filing "single" could you be single but still be head of house hold? i didnt know if you could save more money by choosing between the two?

Answer 1

Tax Rate Schedule Z is simply the rate schedule for someone who can file as Head of Household. It's a filing status that a single person can claim if they are supporting certain dependents.

Answer 2

Schedule Z isn't a form you fill out, it's a tax rate schedule to calculate your taxes. If your taxable income is under $100,000, you can just use the tax tables instead - makes the math easier.

You don't just get to choose - there are rules for being allowed to file as head of household. And yes, that's a status for single people who qualify - you have to have a dependent, and meet additional rules to be able to file as head of household.

Answer 3

Your question is less than clear. Could you be asking about EZ? There is a form 1040EZ; which is the form used filing if you meet the requirements. You can only file with one status; if you are single but have dependents; and meet requirements, you can be classed as head of household for tax purposes. Head of household catagory has a larger standard deduction allowance in the tax filing system.

Answer 4

You may be able to file as head of household if you meet all the following requirements.

1. You are unmarried or “considered unmarried” on the last day of the year.
2. You paid more than half the cost of keeping up a home for the year.
3. A “qualifying person” lived with you in the home for more than half the year (except for temporary absences, such as school). However, if the “qualifying person” is your dependent parent, he or she does not have to live with you.

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Your filing status is single if, on the last day of the year, you are unmarried or legally separated from your spouse under a divorce or separate maintenance decree, and you do not qualify for another filing status.