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Married Filing Jointly
A tax filing status for married couples who choose to combine their income and deductions on a single tax return.
Tax
The amount of money a person must pay to the government to benefit from government services.
Marriage Penalty
A situation in the tax code where married couples end up paying more combined tax than they would as two single individuals.
Taxable Income
The amount of an individual's or corporation's income used to determine how much tax is owed to the government.
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