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In 2021, Frank and Holly, a married couple, had taxable income of $300,000. If they were to file separate tax returns, Holly would have reported
In 2021, Frank and Holly, a married couple, had taxable income of $300,000. If they were to file separate tax returns, Holly would have reported taxable income of $125,000 and Frank would have reported taxable income of $175,000. Use Tax Rate Schedule for reference. What is the couples marriage penalty or benefit? (Do not round intermediate calculations.)
What is the marriage benefit or penalty?
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