Conventional wisdom says that when you get married, you will save lots of money. However, in some cases, that is not true. In this video, we are going to be talking about the marriage tax penalty and how, because of the way the tax code is structured, married people can actually end up paying more in taxes. I'm Joseph, and this is Tasha from One Big Happy. Today, we are talking about just federal taxes and the marriage penalty. People pay taxes in a lot of different ways - state taxes, local taxes, real estate sales tax. Sometimes, there are taxes built into things you find, you don't even know, like your bank. But today, we are focusing on federal taxes because that's usually the biggest one, or at least one of the biggest ones. Alright, so let's talk about how federal income taxes work. Federal income taxes are what's known as a progressive tax. That means the more money you make, the more money you end up paying in taxes. In theory, we have marginal tax rates. This means that a certain bracket of money, say from zero to ten thousand dollars, you get taxed at ten percent. Then, any dollar you make above ten thousand is taxed at a higher rate. So, from $10,001 all the way up to say twenty thousand dollars, you might get taxed at 15%. Lots of people think that if you make more money, you'll definitely pay more in taxes on everything because you'll hit a higher tax bracket. Well, it's just on that additional dollar, so it's bracket by bracket. Don't get confused that if you get into a higher tax bracket, oh, you're gonna owe way more money. No, it's just on that additional dollar into that bracket. Now, let's move on to...
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What are potential irs sanctions for providing false statements to or misleading the irs? Form: What You Should Know
U.S.C. § (criminal tax statutes) 28 C.F.R. §11.64(a)(1) defines the term “filer” to mean any person required to file a return under section 6011(a) of Title 26 (Internal Revenue Code, or IRS Code, which is the definition of “taxpayer”).” 29,29 U.S.C. §6413 29. US Code §6413 states that if a false statement is made to a taxpayer about any of the following: (1) A taxpayer's status, residence, or employer; (2) A taxpayer's income or net worth; (3) A taxpayer's source in any manner or in any amount for any purpose other than as reported on the taxpayer's return; or (4) A taxpayer's claim or defense of any tax liability; and: (A) The liability is not allowed or paid; (B) A claimant is not included, included in the gross income, or denied tax benefits under the system of filing returns. The taxpayer has failed to comply to the terms of a contract of insurance, to a tax provision, or to a rule of conduct. The false statement is made in order to obtain an unfair advantage, gain, etc.
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