Article: Now's Time to Reduce '94 Tax Bill

NEW YORK _ How romantic to be married under the mistletoe or to have a wedding toast on New Year's Eve _ just don't expect a honeymoon from the Internal Revenue Service.

"If you're considering getting married during the holidays and both of you work, you might want to postpone it until January to avoid the marriage penalty," said Larry Scheinfeld, a partner at KPMG Peat Marwick. "Marital status is determined on the last day of the year."

And so is your tax bill. Although the deadline for filing '94 returns is months away, the chance to reduce what you pay the IRS is drawing to a close.

There are still plenty of ways to lower your tax liability before year's end, like increasing ...

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