Prepare for Higher Taxes in 2024 if Your Spouse Passed Away This Year
If you are a retiree who lost your spouse in 2023, I'm very sorry for your loss. Unfortunately, unless you're considered a qualifying widow or widower, your personal and emotional burden in 2023 may very well be followed up with a larger financial burden in 2024.
Unless you're caring for a dependent child who enables you to qualify for a different tax treatment, beginning the year after your spouse dies, you're considered single from a tax perspective. That could cause some substantial tax headaches, as the tax rates for single people are generally higher than the tax rates for those who are married and file joint returns for similar income levels.
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Source Fool.com
