Wis. Tax Proposal Would Benefit Married Taxpayers
Revenue officials want to ease the so-called marriage penalty that's expected to affect the majority of married taxpayers in Wisconsin next year.
The Department of Revenue's 2013-2015 budget request sent to Gov. Scott Walker this week would reduce state income taxes for married couples through a variety of possibilities, including doubling the standard deduction for married taxpayers.
Some married couples filing jointly are due to pay more income taxes than they would if they were single and filing separately. A number of factors contribute to that scenario, including lower tax credits for married couples compared to combined tax credits for two single taxpayers.
The Milwaukee Journal Sentinel reports the proposals by revenue officials could collectively save married couples $63 million to $1 billion over two years.
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