Tax Tips for Recently Married Taxpayers

March 5th, 2013

If you got married during 2012, here are some post-marriage tips to help you avoid stress at tax time.

  1. Notify the Social Security Administration ? Report any name change to the Social Security Administration so that your name and SSN will match when filing 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. The form is available on SSA’s Web site, by calling 800-772-1213, or at local offices. Your income tax refund may be delayed if it is discovered your name and SSN don’t match at the time your return is filed.
  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 Service – You should also notify the U.S. Postal Service when you move so that any IRS or state tax agency correspondence can be forwarded.
  4. Review Your Withholding and Estimated Tax Payments – If both you and your new spouse work, your combined income may place you in a higher tax bracket, and you may have an unpleasant surprise when we prepare your return for 2012. On the other hand, if only one works, filing jointly with your new spouse can provide a significant tax benefit, enabling you to reduce your withholding or estimated payments. The fat is in the fire for 2012, but it may be appropriate to review your withholding (W-4 status) and estimated tax payments, if any, for 2013 to make sure you are not going to be under-withheld and set yourself up to receive bad news.

If you have any questions, please give this office a call.

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