No more Head of Household?

No More Head-Of-Household? It appears that the proposed tax bill from the U.S. House of Representatives would do away with head-of-household status. If this tax bill passes, this could be a huge hit to single parents who would have to start claiming “single” instead of being able to use the tax-saving “head-of-household” status. Many single parents would be paying significantly more taxes each year.

Although there is an increase in the amount of earned income credit proposed in the bill, that may not necessary offset the tax burden for single parents who will have less of their paychecks in the bank each month.

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