Tax Tips for Newlyweds

Summer wedding season is upon us, and newlyweds can take steps now to make their tax filing easier. Your marital status as of December 31 determines your tax filing options for the entire year, but there are several other important details to keep in mind. Let Expatriate Tax Returns help you navigate these changes with ease.

Report a Name Change

If you’ve changed your name, it’s crucial to report this to the Social Security Administration (SSA). The name on your tax return must match what’s on file with the SSA to avoid delays in processing your tax refund. To update your information, file Form SS-5, Application for a Social Security Card. You can find this form on SSA.gov, call 800-772-1213, or visit a local SSA office.

Update Your Address

Make sure to notify the United States Postal Service, your employers, and the IRS of any address changes. To officially change your mailing address with the IRS, complete and submit Form 8822, Change of Address. Detailed instructions can be found on page 2 of the form.

Check Withholding

Newly married couples should give their employers a new Form W-4, Employee’s Withholding Certificate, within 10 days. If both spouses work, you might move into a higher tax bracket or be affected by the additional Medicare tax. Use the Tax Withholding Estimator on IRS.gov to check your withholding and get help completing a new Form W-4.

Review Filing Status

Married couples have the option to file their federal income taxes jointly or separately each year. While filing jointly is usually more beneficial, it’s wise to calculate both ways to see which option is best for you. Remember, if you’re married as of December 31, you are considered married for the entire year for tax purposes.

Beware of Scams

All taxpayers should be vigilant about tax scams. The IRS will never contact you via email, phone calls, social media, or text messages. Initial contact typically comes through the mail. To check if you owe money to the IRS, view your tax account online.

By taking these steps, newlyweds can ensure a smoother tax filing experience. Expatriate Tax Returns is here to assist you every step of the way, making the transition as seamless as possible. Reach out to us for expert guidance and support.