What is the penalty for filing wrong status?

Filing with the wrong status on your tax return can lead to various penalties, including a potential increase in taxes owed, interest on unpaid amounts, and possible fines. The IRS may assess penalties for underpayment of taxes if the incorrect status results in a lower tax liability. Additionally, if the mistake is deemed fraudulent, more severe penalties could apply. It's important to correct any errors promptly to minimize potential consequences.