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.
VIDEO ON MSN MONEY
DATA PROVIDERS
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
Japanese stock price data provided by Nomura Research Institute Ltd.; quotes delayed 20 minutes. Canadian fund data provided by CANNEX Financial Exchanges Ltd.
TOP STOCKS
Here's a list of ways to profit from the potential move from defensive to cyclical stocks.
MARKET DISPATCHES
The Market Dispatches column has been discontinued. Here's where to find the latest stock and business news on MSN Money, and the latest from market writer Charley Blaine.
FRUGAL COOL
Starting Monday, this site is joining forces with MSN Money Smart Spending. Here's why.
MONEY & POLITICS
Breaking up big banks is an untested solution to the too big to fail problem that attempts to isolate and dismantle large, troubled institutions while protecting the rest of the economy.
SMART SPENDING
Children from lower income families are at greater risk of suffering accidental injuries and being sickened by food, according to a Consumer Federation of America study.
SMART TAXES
The IRS is struggling to combat identify thieves who file fraudulent tax returns in the names of older residents who don't need to file.
