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Just Married! Newlyweds, are you prepared for tax season?

If you’re recently married or will be shortly, you’re probably not thinking about tax planning. However, some preparation now will make your life much easier when “that time of the year” inevitably rolls around.

If you’re taking your spouse’s name, the name on your tax return and Social Security number must match Social Security Administration records. To ensure your data corresponds, file Form SS-5, Application for a Social Security Card, which you can download here.  Be prepared to mail or carry your original support documents to your local Social Security office.

You may also need to change your income tax withholding. Use the IRS Withholding Calculator to help complete a new Form W-4 for your employer. To avoid unexpected tax owed or a smaller refund, newlywed couples who receive advance payments of the premium tax credit should report changes in income, family size, etc. to the Health Insurance Marketplace.

If you move to a new home, notify the U.S. Postal Service and file Form 8822, Change of Address with the IRS.

When filing, change your marital status for the tax year if you’re married prior to the end of the year.  (If your wedding doesn’t take place until next year, that will be the following year’s tax change.)

If you’re still considering whether you should file jointly or separately, the tax accountant team at Patrick & Robinson CPAs can help determine which status benefits you most. Contact us at (904) 396-5400 or Office@CPAsite.com.

Congratulations!

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