What You Need To Know About Taxes If You're Getting Married

It may not be high on the list of wedding planningRefund Checks
activities, but there are a few simple steps thatEach year, the Postal Service returns thousands
can help keep tax issues from interrupting yourof tax refund checks as undeliverable, usually
newly wedded bliss. If you recently married,because the addressee has moved. Notifying both
check out your new tax situation. You might savethe Postal Service and the IRS of an address
money or even prevent the problem of a missingchange in a timely manner can help ensure the
refund check.proper delivery of any refund checks. To check
The first things to handle are changes of namethe status of a tax refund, go to the IRS web
and address. Later, as tax season approaches,site and use the "Where's My Refund?" service.
consider whether or not you'll itemize deductions,Changing Filing Status
which tax return form is right for you and whatYour marital status on December 31 determines
filing status you'll use.whether you are considered married for that
No one should delay the cake cutting oryear. Married persons may file their federal
honeymoon because of taxes. But here are someincome tax return either jointly or separately in
helpful hints for later:any given year. Choosing the right filing status
Use Your Correct Namemay save you money.
You must provide correct names and identificationA joint return (Married Filing Jointly) allows spouses
numbers to claim personal exemptions on yourto combine their income and to deduct combined
tax return. If you changed your name upondeductions and expenses on a single tax return.
marrying, let the Social Security AdministrationBoth spouses must sign the return and both are
know and update your Social Security card so theheld responsible for the contents.
number matches your new name. Use FormWith separate returns (Married Filing Separately),
SS-5, Application for a Social Security Card.each spouse signs, files and is responsible for his
Change of Addressor her own tax return. Each is taxed on his or her
If you or your spouse has a new address, notifyown income, and can take only his or her individual
the U.S. Postal Service so that it will be able todeductions and credits. If one spouse itemizes
forward any tax refunds or IRS correspondence.deductions, the other must also.
The Postal Service will also pass your newWhich filing status should you select? It depends
address on to IRS for updating. You may alsoentirely on your specific situation. You should
notify to notify the IRS directly by filing Formconsider sitting down with a tax professional to
8822.make a determination.