The time for procrastinating is over. It's time to file your taxes.
It's the age-old quandary couples face each year because of the benefits and drawbacks that come with each option. A simple coin toss to decide which route to take could end up being more costly or cause you to miss out on hefty tax credits and deductions, leading to a smaller tax refund.is $25,900 this year versus $12,950 for separate filers.
Taxpayers who file jointly are eligible for more tax deductions and credits as married couples. For example, the Earned Income Tax Credit is generally only available to married couples who file jointly. The EITC enables low-income households to deduct as much as $6,935 off their taxes if they have three or more children.
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