Monday, May 10, 2010

Why do you get a bigger refund with married filing seperately?

my hubby and i got a free tax quote recently. we always file jointly and it showed we dont get EIC so our refund is lower. We asked for a seperate response on married filing seperately and it shows we will receive WAY more in a refund if we do it seperately. We have 3 children, didnt owe taxes last year. Is it easier on us to file this way, if we get a bigger refund?Why do you get a bigger refund with married filing seperately?
Dear C: Get a second opinion! Try the free calculator at HR Block.com. If you file MFS you lose EITC and many other credits. I have seen MFS benefit a couple if one had a very large income compared to the other. Very rare!





This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provide. Click on my profile to read more.


Errol Quinn Enrolled Agent Master Tax AdvisorWhy do you get a bigger refund with married filing seperately?
Uh, something is wrong, If you file as married filing separately you can't get EIC under any conditions. And if you are married and living together, joint or married filing separately are your only legal ways to file.





If you are talking to a preparer who is showing EIC on a MFS return, RUN!!! No telling what else they'll mess up!
Somebody is giving you very erroneous information. Looks like they are treating one of you as Head of Household and the other Single or Married Filing Separately. This is illegal if you lived together at any time the last six months of 2008.





Find another preparer. This one is dangerous!
I would get a second opinion if I were you. A free quote may turn out to be exactly what you paid for it. It's unusual for married couples to get significantly more filing separately rather than jointly.





http://www.irs.gov/





Tax 1040 Free Self-Calculating IRS Forms


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