IRS: Tax tips for newlyweds
Summer brides and grooms, here's a reality check to your wedded bliss: Changing your marital status can affect your taxes.
As a result, the Internal Revenue Service reminds newlyweds of the following:
Name changes • If you're changing your legal name after marriage, you need to notify the Social Security Administration because tax returns must reflect up-to-date SSA records. You can file Form SS-5 at SSA.gov, call 800-772-1213 or visit a local SSA office to make the adjustment.
Address changes • If you're moving, contact the U.S. Postal Service and file Form 8822 with the IRS. You'll also want to let your employer know so they can mail your W-2 form to the right address at the first of the year.
Tax withholdings • If you both work, your combined income may push you into a higher tax bracket, so you may want to adjust your withholdings. The IRS has an online withholding calculator tool to help you do this.
Deductions • Marriage could qualify you for tax deductions that could translate into savings, so look into itemizing your taxes. One down side: You can't use the simpler tax forms 1040A or 1040EZ if you itemize.
The IRS also noted it is reviewing the recent Supreme Court decision on the Defense of Marriage Act (DOMA) and will send revised guidance soon.
More information is available at irs.gov.