Taxes, Marriage Penalty?

[airplane]

Is there really a tax penalty for being married?
What if you get married at the end of December...Do you have to claim married for the whole year?

I am so confused.

 

[The Mystery Machine]

I don't think so...

 

[Bob Slydell]

Is there really a tax penalty for being married?

Not anymore. The tax cuts a couple years ago effectively ended that.

What if you get married at the end of December...Do you have to claim married for the whole year?

Yes. You file based on your status at the end of the calendar year.

 

[Chicago526]

I just posted this on another thread!

I've read that Congress only eliminated the "mariage penalty" for tax years 2003 and 2004, then it reverts back to the "old system" after that. Unless Congress extended it, the penalty should be back in effect for 2005.

Has anyone heard if Congress extended the elimination of the marriage penalty?

 

[DwarfMaster]

I think the IRS goes by your marital status on December 31st.