Thursday, February 14, 2013
Tax Policy Center: Marriage Bonus and Penalty Calculator:
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
in time for Valentine’s Day, the Tax Policy Center has updated its
marriage bonus and penalty calculator to reflect the provisions of the
American Taxpayer Relief Act of 2012 (ATRA), the new tax law Congress
passed earlier this year. The new calculator lets you compare the tax
bills of a couple filing as singles and as a couple for either the 2012
or 2013 tax year.
The calculator makes it easy to determine the tax consequences of marriage in 2013. Calculate now, or forever hold your peace.