The Joint Congressional Committee that wrote the 1969 tax reform bill was aware of the possibility. But only now, as the first full season of preparing tax returns under the new law has descended, is the price of virtue coming straight home to American taxpayers. For a husband and wife who both work and have relatively similar incomes, the new rules offer what amounts to a cold-cash invitation to divorce.
One such couple is John and Kathryn McGrath of Washington, D.C. They are both attorneys, he with a private law firm, she for the Securities...
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