Final answer:
The false statement regarding the married, filing jointly status is that filing a joint return avoids the marriage penalty. This is not always true, as the penalty can still affect some married taxpayers.
Step-by-step explanation:
The question regards the rules of tax filing status, specifically regarding the married, filing jointly status. It is crucial to address the provided statements to identify the false one. Considering the U.S. tax code:
- Filing a joint return does carry the potential for joint and several liability, meaning both spouses are legally responsible for the tax payment and any potential outstanding balance owed or penalties.
- Marital status for tax purposes is indeed determined as of the last day of the tax year, which means if you are married at midnight on December 31, you file as either married filing jointly or married filing separately for that entire year.
- If spouses file jointly for a tax year, they generally cannot switch to separate returns after the due date for that tax year has passed.
- Filing a joint return can sometimes avoid the so-called 'marriage penalty', which occurs when spouses with similar incomes pay more tax than they would as two single individuals. However, this is not always true as the 'marriage penalty' can still affect some joint filers, depending on their incomes.
- It is possible for married persons who initially file separately to later change to a joint return within the allowed time frame.
Given the above information, the false statement is: 'Filing a joint return avoids the marriage penalty.' While filing jointly can avoid the marriage penalty in some cases, it is not a guarantee, and the penalty can indeed affect married couples depending on the specifics of their incomes.