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Also: Common myths and misconceptions about marriage and taxes
Tax laws are full of confusing oddities for millions of married couples. But the new law includes important changes that should bring relief for many.
On the whole, the new tax law is likely to have reduced or even eliminated the “marriage penalty” for “many taxpayers” and to have increased the size of the “marriage bonus” for many others, starting with the 2018 tax year, says Mark Luscombe, principal federal-tax analyst at Wolters Kluwer Tax & Accounting in Riverwoods, Ill.