Business, Legal & Accounting Glossary
A consequence of the current tax system which results in most married people collectively paying more in taxes, whether they file jointly or separately, than they would if they weren’t married, and were filing with single status. Various pieces of legislation have been passed which have removed this penalty in some circumstances, and currently the marriage penalty has been temporarily suspended for some of the lower tax brackets through 2010. Unless reinstated, or if new laws are passed, the penalty will take effect again in 2011.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
Definitions for Marriage Penalty are sourced/syndicated and enhanced from:
This glossary post was last updated: 20th November, 2021 | 0 Views.