TPC’s New Marriage Bonus and Penalty Calculator
The federal income tax is not neutral when it comes to marriage. Get married and you and your spouse may pay less to Uncle Sam. Or you may pay more. It all depends. Whether you get a marriage...
View ArticleAn Updated Marriage Bonus and Penalty Calculator for Valentine’s Day
Love is blind, says the adage, and that can be a good thing when it comes to taxes. That’s because married couples often pay a marriage penalty—a higher federal income tax bill than they would if they...
View ArticleA New Marriage Penalty for High Earning Couples—and a Bonus for Some
Our new Marriage Bonus and Penalty calculator, despite all its Valentine’s Day finery, ignores the new 0.9 percent Medicare payroll tax hike buried in the 2010 health law. The extra levy affects only a...
View ArticleSame-Sex Couples and Taxes
The 1996 Defense of Marriage Act (DOMA) was not primarily a tax law but it certainly affects the federal taxes that same-sex couples pay. In fact, taxes are the basis for the second of the two cases...
View ArticleDOMA’s Tax Hassles for Same-Sex Couples
The annual income tax season is no fun for any of us but it can be a lot worse for same-sex couples in California, Nevada, and Washington. Those three states follow community property law and recognize...
View ArticleSame-Sex Couples after DOMA
It’s been less than two months since the Supreme Court ruled part of the Defense of Marriage Act (DOMA) unconstitutional and the fallout has only begun to settle. Nowhere is there more uncertainty...
View ArticleIRS Recognizes Same-Sex Marriages, Regardless of Where Couples Live
Just two weeks ago, I discussed potential tax issues a same-sex married couple could face if they live in a state that doesn’t recognize their marriage. Yesterday the IRS ruled that, for tax purposes,...
View ArticleA Closing Window for Some Same-Sex Couples to File 2012 Tax Returns
Last week’s IRS ruling on same-sex marriages received a lot of attention. Going forward, a same-sex married couple must file federal income tax returns as married, regardless of whether the state where...
View ArticleTax Complications for Same-Sex Couples in Utah (and Elsewhere)
The battle over same-sex marriage in Utah not only raises important questions about marriage law; it also further complicates income tax filing for gay couples who tied the knot during the few weeks...
View ArticleUtah Lets Same-Sex Couples File Joint Tax Returns
The Utah State Tax Commission yesterday reversed Governor Gary Herbert (R), ruling that same-sex couples may file their 2013 state tax returns as married, as long as they wed before the end of last...
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