10 Common Tax-Filing Mistakes That Cost You Big Time

Incorrect Filing Status

If you divorced (or got married) in 2017, is your filing status single or married? Things may seem disputable and each taxpayer seem to view the issue differently. However, the law has a clear answer.

‘The filing status is determined by the current status on December 31st. So if you got married on New Year’s Eve, you’re married all year. If you got divorced on New Year’s Eve, you’re single all year.’—Abby Eisenkraft, finance author

 
Furthermore, you can qualify as the head of household if you were single at the end of the year, financially support another member of the family and provide over 50% of the cost of running your home.

It’s important to know these details because your filing status affects your tax bill.

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