What tax filing status is available for legally married couples who file together?

Married couples who choose to file their taxes together can select the status of Married Filing Jointly. This option allows both spouses to combine their income and deductions, which often results in a lower overall tax liability compared to other filing statuses. The advantages of this filing status include eligibility for various tax credits and deductions that are available only to joint filers, as well as potentially lower tax rates due to wider tax brackets.

Filing jointly can also simplify the tax preparation process since it generally allows for a single tax return, rather than submitting separate ones. This can be particularly beneficial in cases where one spouse earns significantly less than the other, as it enables the higher earner to take advantage of the lower tax rates applicable to a larger combined income.

In contrast, other filing statuses, such as Single or Head of Household, are not applicable to married couples filing together. Similarly, the Married Filing Separately status, while available, often leads to a higher tax burden and is typically less advantageous than filing jointly. This makes Married Filing Jointly the suitable and beneficial choice for legally married couples who wish to file together.