As a newly married couple, you both have planned for, or even still planning for, many life changes. While it may not be a priority at the moment, the IRS
advises that newlywed couples be mindful of their updated tax situation; it could save you both money or even prevent a missing refund check.
Use the Correct Name
To claim personal exemptions or the Earned Income Tax Credit on your tax return, you must provide correct names and identification numbers. Make an effort to let the Social Security Administration know and update your Social Security card, if you changed your name upon marriage. File a Form SS-5 to apply for an updated Social Security card.
Report Change of Address
Notify the U.S. Postal Service if you or your spouse have a new address; therefore, any tax refunds or IRS correspondence can be forwarded to your new residence. Even though the Postal Service will also transmit your new address to the IRS, you can personally notify the IRS by filing a Form 8822 to change your address; or, you can write where you last filed your most recent return and present your full name, old AND new addresses, SSN, and signature.
Don’t forget, let your employers know about any changes to your name or address so you can still get your W-2s.
Remember your Refund Check
Notify the IRS and the U.S. Postal Service in a timely manner of any change of address to secure the proper delivery of refund checks; thousands of tax refund checks are returned to the IRS marked undeliverable every year because of incorrect addresses. If you don’t know the status of your tax refund, use the IRS “Where’s My Refund?” service or call their refund line at 1-800-829-1954.
If you know your refund was marked undeliverable, call the IRS Customer Service line at 1-800-829-1040 for a reissuance.
Select the Right Forms
Choose the right individual tax form and save money. As newlywed taxpayers, you and your spouse may realize that you both now have enough deductions to itemize on your tax returns. Amounts you may have paid for medical care, mortgage interest, contributions, casualty losses, and certain miscellaneous costs can reduce your taxable income, which lowers your tax. You must file a Form 1040
, if you are itemizing deductions. It is not possible to claim deductions in a Form 1040A or 1040EZ; however, other items could be subtracted on those forms.
File for the Right Status
Choose to file jointly or separately based on your marital status; whatever your marital status is on December 31 will determine if you’re considered married or not for that year.
By selecting the appropriate filing status
, you could save 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 as well.
We, at ExpressTaxFilings, congratulate you both on your nuptials and remind you that your filing procedure may be different this tax season. For more information about filing as a married couple, contact your tax professional.