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The difference between claiming single and married is that single places the employee in a higher tax bracket than married. For example, if he claims single with one allowance and earns $550 weekly, his tax withholding is $58 (see page 38 of IRS 2011 Circular E); but if he claims married, his tax withholding is $33 (see page 40). Federal income tax withholding is collectively based on filing status, allowances and income. Therefore, claiming married does not always mean that the employee will pay less federal income tax. For example, he can pay more, if he claims fewer allowances than an employee who has the same earnings but claims single.
Read more: What Is the Difference Between Single & Married Withholding? | eHow.com http://www.ehow.com/info_7884989_difference-between-single-married-withholding.html#ixzz2AEbS0mt6
| 13 years ago. Rating: 3 | |
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