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Marriage Penalty |
Also found in: Wikipedia | 0.02 sec. |
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Marriage penalty A tax that has the effect of penalizing a married couple because they pay more tax on a joint tax return than they would if they file tax returns individually. Marriage Penalty The higher tax rate that some married couples pay when they file jointly for their income taxes. Married couples filing jointly have different tax brackets than single persons; this can work to the advantage of couples with highly disparate income and single income households; however, it can work to the disadvantage of couples with roughly the same income. One refers to this as the marriage penalty. Some married couples file as single person to avoid the marriage penalty. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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