Tax Policy Center

marriage bonus

Individual Taxes: TaxVox
Just in time for this year’s tax filing season (but a bit late for St. Valentine’s Day), the Tax Policy Center has updated its marriage bonus and penalty calculator . The new version lets you compare a couple’s income tax liability when they file as singles or as married for either the 2013 or 2014
February 21, 2014Roberton C. Williams
Individual Taxes: TaxVox
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 they live recognizes their marriage. In addition, same-sex couples may—but don’t have to—file
September 5, 2013Roberton C. Williams
Individual Taxes: TaxVox
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 about the effects of the ruling than regarding federal taxes. The court struck down Section 3 of DOMA
August 15, 2013Roberton C. Williams
Individual Taxes: TaxVox
Same-sex couples are cheering the Supreme Court’s striking down the Defense of Marriage Act (DOMA), but the tax consequences are more of a mixed bag. For many couples, federal recognition of same-sex marriages will mean lower tax bills, but some gay couples will end up paying more. As I discussed
June 26, 2013Roberton C. Williams
Individual Taxes: TaxVox
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 either same-sex marriages or domestic partnerships. The combination makes tax filing an even
March 26, 2013Roberton C. Williams
Individual Taxes: TaxVox
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 concerning same-sex marriage that the Supreme Court will hear this week. Although the federal
March 25, 2013Roberton C. Williams
Individual Taxes: TaxVox
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 few high-income couples but in very different ways. Lucky couples will collect marriage bonuses
February 15, 2013Roberton C. Williams
Individual Taxes: TaxVox
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 were single. But for most couples, marriage means a lower tax bill—a marriage bonus in tax-speak.
February 13, 2013Roberton C. Williams
Individual Taxes: TaxVox
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 bonus —your combined tax bill goes down—or suffer a marriage penalty —you pay more as a couple—depends on
August 21, 2012Roberton C. Williams