Tying the knot sometimes means paying a marriage tax penalty
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Some newlyweds get an unwelcome gift from the IRS: a bigger tax bill.
While many couples end up paying less in taxes after tying the knot, some face a “marriage penalty” — that is, they end up paying more in taxes than if they had remained unmarried and filed as single taxpayers.
The penalty occurs when tax-bracket thresholds, deductions and credits are not double the amount allowed for single filers — and it can impact both high and low earners, as well as younger or older taxpayers.
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