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Bookmark or Share- What the Marriage Tax Penalty Is and How to Avoid ItA marriage tax penalty occurs when a married couple incurs a higher tax rate when filing jointly than they would if they were filing separately. The reason for this penalty is that state and federal tax brackets don’t always double the single-income rates for married couples filing jointly.
- Taxes: How to tell if you'll receive a marriage penalty or bonus - CNBCWhat is a marriage penalty? Couples experience a marriage penalty when they file jointly and owe more in taxes than they would filing as single individuals. Because...
- Understanding the Marriage Penalty and Marriage Bonus - Tax FoundationKey Findings. A marriage penalty is when a household’s overall tax bill increases due to a couple marrying and filing taxes jointly. A marriage penalty typically occurs when two individuals with similar incomes marry; this is true for both high- and low-income couples.
- Getting Married: What Newlyweds Need to Know - TurboTaxFor married couples filing jointly, that threshold is just $693,750 — far from double that available to single taxpayers. That's a significant marriage penalty for high-income couples. In some cases, married couples actually get a marriage bonus. This means they pay less income tax as a married couple than they would if they stayed single.
- What Is the Marriage Penalty? - The BalanceThe marriage penalty is the increase in a married couple’s joint tax liability over what would have been their combined tax liability as two individual filers. The marriage penalty is generally caused by the tax code not exactly doubling certain amounts for married taxpayers filing jointly.
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