Which one of the following statements is true of returns filed by married persons filing jointly?
A)Each spouse is liable for one-half the tax due if there are any deficiencies.
B)Each spouse is liable for his or her proportional share due, based on percentage of total income, if there are any deficiencies.
C)Once a married couple files a joint return for a year, they may not switch to separate returns after the due date for that return.
D)The joint return is available more for convenience than for tax savings.

Question

Quizplus · Accepted Answer

When married couples file a joint return, they are both jointly and severally liable for the tax and any additions to tax, interest, or penalties that arise from the joint return, even if they later divorce. However, once the due date for the return has passed, they cannot switch to filing separate returns for that year. Choices A, B, and D do not accurately describe the tax implications and options for married persons filing jointly.

Which One of the Following Statements Is True of Returns