Maria and Tony Are Married

question 74

Essay

Maria and Tony are married. They are preparing to file their 2020 tax return. If they were to file as single taxpayers, Maria and Tony would report $40,000 and $60,000 of taxable income, respectively. On their joint tax return, their taxable income is $100,000. How much of a marriage penalty or benefit will Maria and Tony experience in 2020? (Use tax rate schedules.)

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Definitions:

Reporters

Individuals, often journalists, who investigate and report news stories to the public through various media channels.

Courts of Equity

Judicial venues that decide cases based on fairness and moral righteousness, as opposed to strictly adhering to written laws.

Separate Court Systems

Jurisdictional distinctions within a country's judiciary, where different types of courts handle specific kinds of matters, such as federal versus state courts in the United States.

Supreme Law

The highest form of law in a legal jurisdiction, to which all other laws must conform; in many countries, this is the constitution.