Which tax filing status requires that both spouses report their total income on one tax return?

The filing status that requires both spouses to report their total income on one tax return is "Married Filing Jointly." This status allows married couples to combine their income and deductions on a single tax return, which often results in a lower tax liability compared to filing separately. By choosing this status, couples can benefit from a higher standard deduction, various tax credits, and potentially lower tax rates. This option is typically advantageous for many couples, as it maximizes the benefits available to them under the tax code.

Other filing statuses, such as Single, Married Filing Separately, and Head of Household, do not require or allow for the combination of income on a joint tax return. Single and Head of Household are designed for individuals, while Married Filing Separately requires each spouse to report their income on individual returns, making it less beneficial in most cases compared to filing jointly.