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Tying the Knot?  Marriage Tax Benefits & Penalties Explained

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The Street

By Jean-Luc Bourdon If you’re planning to walk down the aisle, it’s time to brush up on marriage tax penalties and tax benefits. Our CPA says this is who’s eligible for benefits, and why penalties are mostly a thing of the past. The marriage tax penalty is mostly dead. Long live the marriage tax benefit.Married couples often share many things: a home, a bed, and tax brackets. Until 2018, couples were often squeezed into joint tax brackets less than twice the single size. That was dubbed the marriage tax penalty and was often erroneously thought to negatively impact all married couples. A false…

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