The Marriage Tax Penalty, Post-TCJA

The law known as the Tax Cuts and Jobs Act (TCJA) addressed the individual tax rate bracket structure’s previous contribution to a marriage tax penalty by equalizing married filing jointly tax amounts with those of two single individuals combined (each with half the amount of taxable income of the joint filers), up to the bottom threshold of the highest tax bracket.

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Unfiled Tax Returns: What Do You Do?

by McNair Law Firm, P.A. The United States has a voluntary income tax reporting system.  U.S. citizens, permanent residents, and businesses here must annually file income tax returns with the IRS, reporting their “worldwide income”, deductions, and their “net taxable income”,

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