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Tag: married filing jointly

Newlywed Tax Tips

The spring into summer months is a popular season for weddings. No matter when you get married though, a change in your marital status can affect your taxes. Here are some helpful tips from the IRS.

  • Make sure that the names and Social Security numbers that you put on your tax return match the Social Security Administration records. If you’ve changed your name, report the change by filing Form SS-5, Application for a Social Security Card. You can get this form on their website at SSA.gov, by calling 800-772-1213 or by visiting your local SSA office.
  • To submit a Change of Address use Form 8822 and submit that directly to the IRS.  You should also ask to have your mail forwarded online at USPS.com or report the change at your local post office.
  • If you work, report your name or address change to your employer. This will help to ensure that you receive your Form W-2, Wage and Tax Statement, after the end of the year.
  • If you and your spouse both work, you should check the amount of federal income tax withheld from your pay. Your combined incomes may move you into a higher tax bracket. Use the IRS Withholding Calculator tool at IRS.gov to help you complete a new Form W-4, Employee’s Withholding Allowance Certificate. See Publication 505, Tax Withholding and Estimated Tax, for more information.
  • If you are married as of Dec. 31, that’s your marital status for the entire year for tax purposes. You and your spouse usually may choose to file your federal income tax return either jointly or separately in any given year. You may want to figure the tax both ways to determine which filing status results in the lowest tax. In most cases, it’s beneficial to file jointly.
  • For information regarding registered domestic partners/individual in civil unions, you can click on this link here to be directed to the IRS FAQ for that subject matter.
By Teresa BuelnaTrending Tax Topics

Entering Wedded Bliss? Tips for Newly Married Taxpayers

  1. The IRS considers you to be married for the full year, even if you were married on the very last day of the year. You may need to adjust your tax withholding with your employers now if you already know you’ll be married later in the year. Your combined income may put you in a higher bracket if you both are employed. The IRS has a tool to help with determining this. To change your withholding you will need to fill out Form W-4.
  2. Notify the Social Security Administration to report any name change so your name and Social Security number will match when you file your next tax return. File a Form SS-5, Application for a Social Security Card, at your local SSA office.
  3. Notify the IRS if you move. You can use Form 8822 to notify them of your change of address. You may download Form 8822 from www.IRS.gov .
  4. If your mailing address has changed you should also notify the post office.
  5. Notify your employer of any name and address changes.
By Teresa BuelnaTrending Tax Topics