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Married Filing Jointly

   Also found in: Acronyms 0.01 sec.
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.
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In Egolf's example of a family of four, he used the tax table for a single taxpayer, rather than married filing jointly, where the top tax rate kicks in at $24,000.
LETTERS TO THE EDITOR by The Santa Fe New Mexican (Santa Fe, NM)
The amount you can contribute phases out gradually until your income reaches $116,000 if you’re single, or $169,000 if you’re married filing jointly.
Strategies to Stretch Retirement Savings by Kimberly Lankford, Contributing Editor, Kiplinger's Personal Finance / Kiplinger.com
District Court for the Western District of Louisiana held that a taxpayer could use the married filing jointly status on delinquent tax returns for the five tax years preceding the year his spouse had died.
Late returns, late wife by Reichert, Charles J. / Journal of Accountancy
 
 
 
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