Contrast the Tax Consequences Resulting from the Following Filing Status

Essay

Contrast the tax consequences resulting from the following filing status situations:
a. Married filing jointly versus married filing separately.
a. Married persons filing jointly have a number of tax elections available to them that cannot be chosen if they file separate returns. For example, the credit for child and dependent care expenses and the earned income credit are not available unless married persons file joint returns.
b. Married filing separately versus single.
c. Married filing separately versus abandoned spouse status.