In 2022, Lisa and Fred, a married couple, had taxable income of $300,000. If they were to file separate tax returns, Lisa would have reported taxable income of $125,000 and Fred would have reported taxable income of $175,000. Use Tax Rate Schedule for reference. What is the couple's marriage penalty or benefit?

2022 Tax Rate Schedules

Individuals

Schedule X-Single

If taxable income is over:	But not over:	The tax is:
$ 0	$ 10,275	10% of taxable income
$ 10,275	$ 41,775	$1,027.50 plus 12% of the excess over $10,275
$ 41,775	$ 89,075	$4,807.50 plus 22% of the excess over $41,775
$ 89,075	$ 170,050	$15,213.50 plus 24% of the excess over $89,075
$ 170,050	$ 215,950	$34,647.50 plus 32% of the excess over $170,050
$ 215,950	$ 539,900	$49,335.50 plus 35% of the excess over $215,950
$ 539,900		$162,718 plus 37% of the excess over $539,900

Schedule Y-1-Married Filing Jointly or Qualifying Widow(er)

If taxable income is over:	But not over:	The tax is:
$ 0	$ 20,550	10% of taxable income
$ 20,550	$ 83,550	$2,055 plus 12% of the excess over $20,550
$ 83,550	$ 178,150	$9,615 plus 22% of the excess over $83,550
$ 178,150	$ 340,100	$30,427 plus 24% of the excess over $178,150
$ 340,100	$ 431,900	$69,295 plus 32% of the excess over $340,100
$ 431,900	$ 647,850	$98,671 plus 35% of the excess over $431,900
$ 647,850		$174,253.50 plus 37% of the excess over $647,850

Schedule Z-Head of Household

If taxable income is over:	But not over:	The tax is:
$ 0	$ 14,650	10% of taxable income
$ 14,650	$ 55,900	$1,465 plus 12% of the excess over $14,650
$ 55,900	$ 89,050	$6,415 plus 22% of the excess over $55,900
$ 89,050	$ 170,050	$13,708 plus 24% of the excess over $89,050
$ 170,050	$ 215,950	$33,148 plus 32% of the excess over $170,050
$ 215,950	$ 539,900	$47,836 plus 35% of the excess over $215,950
$ 539,900		$161,218.50 plus 37% of the excess over $539,900

Schedule Y-2-Married Filing Separately

If taxable income is over:	But not over:	The tax is:
$ 0	$ 10,275	10% of taxable income
$ 10,275	$ 41,775	$1,027.50 plus 12% of the excess over $10,275
$ 41,775	$ 89,075	$4,807.50 plus 22% of the excess over $41,775
$ 89,075	$ 170,050	$15,213.50 plus 24% of the excess over $89,075
$ 170,050	$ 215,950	$34,647.50 plus 32% of the excess over $170,050
$ 215,950	$ 323,925	$49,335.50 plus 35% of the excess over $215,950
$ 323,925		$87,126.75 plus 37% of the excess over $323,925