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3 edition of Marital status as a factor in the Federal income tax treatment of individuals found in the catalog.

Marital status as a factor in the Federal income tax treatment of individuals

Marital status as a factor in the Federal income tax treatment of individuals

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Published by Library of Congress, Congressional Research Service in [Washington, DC] .
Written in English

    Subjects:
  • Income tax -- United States,
  • Marital status -- United States

  • Edition Notes

    StatementSusan L. Drake, Economic Analyst, revised by John Karr, Economic Analyst
    SeriesMajor studies and issue briefs of the Congressional Research Service -- 1976-78, reel 11, fr. 1051
    ContributionsKarr, John, Library of Congress. Congressional Research Service
    The Physical Object
    FormatMicroform
    Pagination35 p.
    Number of Pages35
    ID Numbers
    Open LibraryOL15449828M

    Congressional Research Service, Marital Status as a Factor in the Federal Tax. Treatment of Individuals () [hereinafter cited as Marital Status]; Richards, Discrimina-tion Against Married Couples Under the Present Income Tax Laws, 49 Taxes , ()Author: Wendy C. Gerzog. Tax to withhold from $ from marital status (single): $** *This is found in IRS Publication **You can round numbers by reducing the last digit to zero or figuring the wages to the nearest dollar. You may use whichever withholding method is best suited to your particular payroll situation.

    What you need to do if your marital status changes. If your marital status changes, you need to tell the CRA before the end of the month after the month your status changed. For example, if your marital status changes at any time in August, tell the CRA about the change by the end of September. Child-centered tax policies should be separated from marital status so that all taxpayers who care for children will be treated equally. UE urges the media, the public, and all policymakers to acknowledge that: the tax structure favors upper-income married provider-dependent households, a minority among American household types; and.

    Under Part 1 of the Michigan Income Tax Act (MITA), a Michigan NOL occurs when business losses exceed income in a particular tax year. Like the federal NOL deduction, the Michigan NOL deduction is a legislatively-created mechanism by which taxpayers can smooth fluctuating income from year to year for tax purposes. Citizenship Status v. Tax Status What is a “tax”? Who are “taxpayers” Nature of I.R.C. Subtitle A “Taxable income” The government tax fraud State v. Federal Income taxes State Income Taxes Example: California Flawed Tax Arguments Getting connected: resources Sovereignty Education and.


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Marital status as a factor in the Federal income tax treatment of individuals Download PDF EPUB FB2

Get this from a library. Marital status as a factor in the Federal income tax treatment of individuals. [Susan L Drake; John Karr; Library of Congress. Congressional Research Service.]. A married couple can file a joint tax return in which both spouses report their respective incomes.

This may result in a lesser amount of federal income tax being due than if each spouse had filed a separate tax return as single persons (especially if one spouse has a relatively high income in comparison with the income of the other spouse). Your standard deduction for the tax year is $12, if you're single and if you don't qualify for the advantageous head of household status.

This deduction amount is up from $12, for the tax year. The standard deduction increases to $18, if you qualify as head of household, up from $18, in This report provides an overview of the federal tax treatment of same-sex married couples, with a focus on the federal income tax. Estate tax issues are also discussed.1 The administration of federal tax laws for married same-sex couples changed as a Author: Margot L.

Crandall-Hollick, Carol A. Pettit, Molly F. Sherlock. marital status as a factor. Consequently, as of Decemour research identified a total of 1, federal statutory provisions classified to the United States Code in which marital status is a factor in determining or receiving benefits, rights, and privileges.

Individual Tax Statistics Data by Marital / Filing Status A complete list of tables from various sources and publications which are classified by filing (marital) status.

The tables. Marital status and spouse's year of death (if applicable). The percentage of the costs that your household members paid toward keeping up a home.

The tool is designed for taxpayers that were U.S. citizens or resident aliens for the entire tax year for which they're inquiring. earned income tax credit (EITC), an income supplement for low-income workers. Within that context, this paper examines SSI policy toward marital status.

Although each member of an SSI married couple is guaranteed an income level equal to only 75 percent of the federal benefit rate, they are generally financially better off than SSI individuals.

The status with the employer only tells them how much tax to take out and does not force you to choose one filing status over another. In fact, many married couples have found that taking taxes out as if they were single helps them on their tax return, especially if they both have income.

Essentially, this means everyone pays a percentage of their income to the federal government, but higher-income people pay a higher percentage than those with less income. In theory, this system distributes the tax burden more heavily onto those who have more and thus are more able to contribute.

If your income is greater than or equal to $50, each, you may pay less tax on two returns for single taxpayers. The married filing jointly tax rates have the largest spread for each tax bracket. However, taxpayers with a similar income of $50, or more often pay more taxes because they will have more income in the higher tax bracket.

The employee's marital status is one factor that determines the amount of federal income tax withheld by the employer. true or false. Answer Save.

3 Answers. Relevance. Bostonian In MO. Lv 7. 6 years ago. Favorite Answer. Not exactly. While you are asked for your marital status on your W-4, you are not required to report it accurately. Covers special situations a practitioner may encounter when preparing individual income tax returns.

Content Hightlights Unique details relating to deductions, depreciation, strategies, challenges, and reporting requirements based on particular industries, professions, and situations.

For federal income tax purposes, there are five tax “statuses:” single; head of household; married filing jointly; married filing separately; and qualifying widow(er) with dependent child. Status affects tax credits and deductions, and therefore also affects the amount of taxes owed.

This article focuses on married persons filing jointly or separately. U.S. Federal Income Taxation of Individuals appreciate how applying the income tax rules for debt to a debt-financed investment afforded more favorable consumption tax treatment creates tax arbitrage problems.

Congress and the courts then must combat these tax shelter opportunities (sometimes ineffectively) with both statutory and. has no income tax liability; or (3) a combination of a reduced federal tax liability and a refund.

The amount of the credit a tax filer receives is based on the prior year’s income, earnings, and family composition (marital status and number of qualifying children).File Size: 1MB.

Marital Status. There is a lower withholding rate for people who qualify to check the Married box on line. Wildcat Corp. uses the annualized income method to determine its quarterly federal income tax payments.

It had $50, $25, and $45, of taxable income for the first, second, and third quarters, respectively ($, in total through the first three quarters). is therefore clear tbat the current individual income tax in tbe United States is not marriage-neutral because a person's income tax liability depends upon bis or ber marital status.

It is straightforward to incorporate taxes into tbe marriage decision. Sup-pose, for simplicity, tbat the income tax consists of a constant marginal tax. The full child tax credit is eligible to any single person with an adjusted gross income under $75, The phaseout for married couples filing jointly would logically be $, but it begins.

The following sections discuss federal tax areas where marital status is significant. Tax Rates, Brackets, and Deductions The most visible difference between married and single taxpayers is their filing status.

Married taxpayers file jointly (MFJ) or separately (MFS). Individual taxpayers tile as single or as head of household.a fixed income tax deduction a taxpayer may claim for each person who qualifies as a dependent of the taxpayer. filing status. filing status places taxpayers into one of five categories by marital status and family situation as of the end of the year.

IRS provided tables that specify the federal income tax liability for individuals with.Publication 17 - Your Federal Income Tax (For Individuals) - Filing Status Marital Status.

In general, your filing status depends on whether you are considered unmarried or married.