If you feel like marriage is a sacred institution, the Internal Revenue Service (IRS) might disagree with you.
Last week the IRS essentially increased incentives for couples that choose to live together while remaining unmarried. Tax analysts call this the “marriage penalty.”
According to Forbes:
For example, the 28% tax bracket kicks in at $91,150 of income if you’re single, but at only $151,900 — an amount basic math tells you is less than double $91,150 — for married taxpayers. In addition, single taxpayers start to lose 3% of itemized deductions when adjusted gross income exceeds $258,250; married taxpayers, however, will lose itemized deductions once adjusted gross income exceeds only $309,900.
Late last week, the IRS exacerbated the marriage penalty by offering a very large reward for unmarried taxpayers who co-own a home: double the mortgage interest deduction available to married taxpayer.
It seems like conservative organizations aren’t the only institutions targeted by the IRS.
People wonder why there has been a breakdown of the American family, but it is clear that federal government does not take tradition or family values into consideration.