Sentences with phrase «brackets on joint returns»

The ceilings for the top of the 10 percent and 15 percent brackets on joint returns are precisely twice as high as the ceilings on single returns (that was not always the case).

The top of the 10 % and 15 % tax brackets on joint returns are now precisely twice as high as the ceilings on single returns (they used to be less than double).

Not exact matches

This is how the marriage penalty might get you: when you combine incomes on a joint return, some of that income can push you into a higher tax bracket than you would be in if filing as single.

As higher incomes fall into higher tax brackets, the breakpoints on a joint return aren't quite double the level on a single return.

The more unequal two spouses» incomes, the more likely that combining them on a joint return will pull some of the higher - earner's income into a lower bracket.

The reason is, Iowa has just one tax bracket regardless of filing status, so two people filing a joint return will be taxed on their combined incomes at a high point in Iowa's highly progressive tax bracket.

As incomes rise into higher brackets, though, the tax ceilings on a joint return aren't quite double the ceilings on a single return.

In 2017, those reporting at least $ 214,000 in yearly income on an individual tax return (or $ 428,000 on a joint tax return) fell into the bracket paying the highest monthly Part B premium of $ 428.60.