If both partners make more than $400,000 a year, a married couple could end up paying more in taxes than two single wage earners would pay.
The president seeks to raise $1.5 trillion in the next 10 years from wealthy Americans. Yet most of his proposals were also in last year's budget and went nowhere.
Adjustments for inflation include a change in tax-bracket thresholds and a small increase in the standard deduction and dependent exemption.
GOP candidate's proposal would cut taxes 62% for millionaires and put a major hole in the federal budget, analysis finds. Gingrich disputes deficit projection.
With all the maneuvering, it's hard to keep up without a scorecard. Here are the major changes that will affect your taxes this year.
End of Bush tax cuts and additional Medicare tax will mean higher taxes, especially for wealthy. And inflation could push more into that group.
More people who lost jobs applied for benefits. If you overpaid, you can get that money back.
President's budget proposal calls for shrinking the deduction for couples earning more than $200,000 a year.
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