In the United States of America Tax System, there are 4 different tax-filing status. These are listed as :
- Single filers
- Married filing jointly
- Married filing separately
- Head of household
Here in our post, we will discuss with you the features of the default single filing status. We will also share the default tax brackets for single taxpayers. This entire document can be seen as a guide for single taxpayers who would like to make the best tax deductions.
Single Filer Qualifications
Just showing your ID card which says that you are single is not good enough to prove that you’re qualified for filing as single. The IRS expects all the taxpayers who would like to file as single. Here are the requirements you’re expected to meet :
- According to the tax system of the U.S, the last day of the year which is 31 December determines your marital status in filing your taxes. If you’ve never been married or divorced during the whole tax year until December 31, then you are a single tax filer in the eyes of the IRS.
- If you’re qualified as head of household, you can file as single. If your expenses on your home in which you and at least one dependent live together higher than half of the total cost, you qualified as head of household.
2020 Tax Table for Single Filers
The U.S tax system is progressive. This simply means that the more you earn the more you pay taxes. You can check this table showing the tax brackets for single filers:
|Tax Rate||Tax Bracket|
|10%||$1 – $9,525|
|12%||$9,526 – $38,700|
|22%||$38,701 – $82,500|
|24%||$82,501 – $157,500|
|32%||$157,501 – $200,000|
|37%||$500,000 and above|
Single tax filing may reduce your paperwork but offers generally the least payment advantages.