IRS Penalizing Married Couples, Rewarding Unmarried Co-Habitants

If you feel like marriage is a sacred institution, the Internal Revenue Service (IRS) might disagree with you.

Last week the IRS essentially increased incentives for couples that choose to live together while remaining unmarried. Tax analysts call this the “marriage penalty.”

For example, the 28% tax bracket kicks in at $91,150 of income if you’re single, but at only $151,900 — an amount basic math tells you is less than double $91,150 — for married taxpayers. 

In addition, single taxpayers start to lose 3% of itemized deductions when adjusted gross income exceeds $258,250; married taxpayers, however, will lose itemized deductions once adjusted gross income exceeds only $309,900.  More

NUTTY NEWS APPs: iPhone, iPad, iPod Touch – Android

Nutty News Today – Nutty Videos – Nutty News on Twitter - Nutty Videos on Twitter - Nutty News on Facebook - Strange Crimes - True Crime Stories – FBI Most Wanted – Amber Alerts - True Prisoner Stories and Pictures – Strange Facts - Today’s Nutty Joke - Technology News - Political News not always covered by the Mainstream Media