tax status


Filing status chosen by an individual or business when filing taxes. An individual can choose to file single, married filing jointly, married filing separately, or head of household. A business can choose to file C corporation, S corporation, limited partnership, limited liability corporation (LLC), or sole proprietorship. A taxpayer may fall into more than one category, and in which case can attempt to figure out which status will provide the best outcome.

Use tax status in a sentence

I wondered what his tax status was and he let me know it and it surprised me because it was different than I thought.

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Changing their tax status to "married filing jointly" made a huge difference on the amount owed in taxes on John and Mary Smith's tax return.

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After the got married, they knew they would have to change their tax status. While they used to file single before, now they would need to file married.

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