Married Filing Jointly

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Married Filing Jointly

A situation in which a married couple files a single tax return. Married persons usually file jointly if only one spouse makes the majority of the income; if both spouses make a significant income, filing jointly may be more complicated than it is worth. When a married couple files jointly, each spouse is completely responsible for the tax liability.

Married Filing Jointly

A filing status that can be used by taxpayers who are married at the end of the tax year and not legally separated under a final decree of divorce or separate maintenance. The income, deductions, and credits of both spouses are entered on a joint return.
References in periodicals archive ?
For example, suppose married taxpayers filing jointly figure tax on $231,000.
For married couples filing jointly, the 50 percent taxable figure applies if your combined income is between $32,000 and $44,000.
That's everything from filing jointly to saving on estate taxes.
If we look at the federal tax rate tables found on page 14 of the November/December 2010 issue of this publication, we see that married couples filing jointly pay a 28 percent income tax rate for income between $137,301 and $209,250.
The credit has increased for people with three or more children and for some married couples filing jointly.
Gay and lesbian couples who have filed as domestic partners in Oregon will have the option a year from now of filing jointly on their state income tax returns.
Married couples should compute tax liability filing jointly and separately, to see which is more beneficial.
If you're filing jointly, an AGI up to $150,000 will permit either or both working spouses to make full contributions.
To use it, taxpayers enter their Social Security number, filing status (such as single or married filing jointly,) and the refund amount shown on their 2004 tax return.
The WFTRA extends the current 10% tax bracket for married filing jointly (MFJ) and single taxpayers, the expanded 15% MFJ tax bracket and the MFJ standard deduction designed to eliminate previously existing marriage penalties.
Thus, to properly file, married gay couples should create a "dummy" federal form, as if they were filing jointly on their federal return, for use as a worksheet.
In Tax Incentives for a Child's Education, the second paragraph on page 35, should read: The ability to contribute to an Education Savings Account is phased out for taxpayers filing jointly with Adjusted Gross Income (AGI) between $190,000 and $220,000 while for those filing singly, the phase out AGI is between $95,000 and $110,000.