|
It may not be high on the list of
wedding planning activities, but there are
a few simple steps that can help keep tax
issues from interrupting your newly-wedded
bliss. If you recently married, check out
your new tax situation. You might
save money or even prevent the problem of
a missing refund check.
The first things to handle are changes
of name and address. Later, as tax
season approaches, consider whether or not
you'll itemize deductions, which tax
return form is right for you and what
filing status you'll use.
No one should delay the cake cutting or
honeymoon because of taxes. But here
are some helpful hints for later:
Use the Correct Name
You must provide correct names and
identification numbers to claim personal
exemptions or the Earned Income Tax Credit
on your tax return. If you changed
your name upon marrying, let the Social
Security Administration know and update
your Social Security card so the number
matches your new name. Use Form SS-5,
Application for a Social Security Card.
Report Your Change of Address
If you or your spouse have a new
address, notify the U.S. Postal Service,
so that it will be able to forward any tax
refunds or IRS correspondence. The
Postal Service will also pass your new
address on to IRS, so we can
update your account. You may
also notify us directly by sending Form
8822, Change of Address. Or write to
the IRS center where you filed your most
recent return and provide your full name,
old and new addresses, SSN and
signature. Remember to let your
employers know about any name or address
changes so you'll receive your W-2s after
the end of the year.
Get That Refund Check
Each year, the Postal Service returns
thousands of tax refund checks as
undeliverable, usually because the
addressee has moved. Notifying
both the Postal Service and the IRS
of an address change in a timely manner
can help ensure the proper delivery of any
refund checks. To check the status of
a tax refund, use our "Where’s My
Refund?" service or call the
toll-free refund line at
1-800-829-1954. If your refund check
was returned to the IRS as undeliverable,
call the toll-free customer service line
at 1-800-829-1040 to arrange for
reissuance.
Select the Right Form
Choosing the right individual income
tax form can help save money. Newly
married taxpayers may find that they now
have enough deductions to itemize on their
tax returns. Amounts paid for medical
care, mortgage interest, contributions,
casualty losses and certain miscellaneous
costs can reduce your taxable income,
lowering your tax. You must use Form
1040 if you itemize deductions. You
cannot claim these deductions if you file
Form 1040A or 1040EZ, although you may
subtract some other items on these basic
forms.
If the tax package you receive in
January doesn't have all the forms you
need, you may download them from this site
or call (toll-free) 1-800-TAX-FORM
(1-800-829-3676).
Choose the Best Filing Status
Your marital status on December 31
determines whether you are considered
married for that year. Married
persons may file their federal income tax
return either jointly or separately in any
given year. Choosing the right filing
status may save you money.
-
A joint return (Married Filing
Jointly) allows spouses to combine
their income and to deduct combined
deductions and expenses on a single
tax return. Both spouses must
sign the return and both are held
responsible for the contents.
-
With separate returns (Married
Filing Separately), each spouse
signs, files and is responsible for
his or her own tax return. Each
is taxed on his or her own income,
and can take only his or her
individual deductions and
credits. If one spouse itemizes
deductions, the other must
also.
Figuring the tax both ways can
determine which filing status will result
in the lowest tax – usually, it’s
filing jointly. Publication 501,
Exemptions, Standard Deduction, and Filing
Information, has detailed information on
filing status.
Related Items:
-
Form SS-5, Application for a Social
Security Card ( PDF
71K)
-
-
Pub. 501, Exemptions, Standard
Deduction, and Filing Information ( PDF
178K)
|
