Recently Married Taxpayers: Five Basic Tips
If you are getting married this year, this may have a significant impact on your tax returns for the year 2010. While you are likely to deal with most of these changes when you will be filing your tax return for the tax year 2010, there are some basic administrative actions that you should be taken right now.
1. Notify the Social Security Administration (“SSA”). Report any name change to the SSA, so that your name and Social Security Number will match when you file your next tax return. Informing the SSA of a name change is quite simple. File a Form SS-5, Application for a Social Security Card, at your local SSA office.
2. Notify the IRS. If you have a new address you should notify the IRS by sending Form 8822, Change of Address.
3. Notify the U.S. Postal Office. You should also notify the U.S. Postal Service when you move so it can forward any IRS correspondence
4. Notify Your Employer. Report any name and address changes to your employer(s) to make sure you receive your Form W-2, Wage and Tax Statement, after the end of the year.
5. Tax Withholding. If both you and your spouse work, your combined income may place you in a higher tax bracket. You can use the IRS Withholding Calculator available on IRS.gov to assist you in determining the correct amount of withholding needed for your new filing status. The IRS Withholding Calculator will even provide you with a new Form W-4, Employee’s Withholding Allowance Certificate, you can print out and give to your employer so they can withhold the correct amount from your pay.