If you’re “tying the knot” this summer, you should review a few tax-related items after the wedding. Big life changes, including a change in marital status, often have tax implications. Here are a few things couples should think about after the wedding.
Name and address changes
People who change their name after marriage should report it to the Social Security Administration as soon as possible. The name on your tax return must match what is on file at the SSA. If it doesn’t, it could delay your tax refund. To update your information, file Form SS-5, Application for a Social Security Card. The form is available on SSA.gov, by calling 800-772-1213 or at a local Social Security Administration office.
If marriage means a change of address for you, the IRS and U.S. Postal Service need to know. To do that, send the IRS Form 8822, Change of Address. You should also notify the postal service to forward your mail by going online at USPS.com or by visiting your local post office.
After getting married, couples should consider changing their withholding. Newly married couples must give their employers a new Form W-4, Employee’s Withholding Allowance within 10 days. If both spouses work, they may move into a higher tax bracket or be affected by the additional Medicare tax.
Married people can choose to file their federal income taxes jointly or separately each year. For most couples, filing jointly makes the most sense, but you should review your own situation to decide what is best for you. If a couple is married as of December 31, the law says they’re married for the whole year for tax purposes.