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What is the couple marriage penalty or benefit

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Reference no: EM132911724

Problem - In 2020, Lisa and Fred, a married couple, had taxable income of $315,700. If they were to file separate tax returns, Lisa would have reported taxable income of $130,200 and Fred would have reported taxable income of $185,500. Use Tax Rate Schedule for reference. What is the couple's marriage penalty or benefit?

Reference no: EM132911724

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