Tax tips for newlyweds
Wedding season is officially here! The last thing a newlywed is thinking of is taxes. However, while changing the name on your drivers license and other important accounts, it’s important to change it with the IRA as well. Here are some tips from the IRS for newlyweds.
- Use the correct name – If you changed your name upon marrying, let the Social Security Administration know and update your Social Security card so the number matches your new name.
- Report your change of address – Notify the USPS. They’ll also pass your new address on to the IRS, which will update your account. You may notify the IRS directly by sending Form 8822.
- Get that refund check – Notifying both the Postal Service and the IRS of an address change in a timely manner can help ensure the proper delivery of any refund checks.
- Select the right form – Now that you’re married, you may be able to itemize deductions. Use Form 1040 if you itemize deductions. You cannot claim these deductions using Form 1040A or 1040EZ.
- Choose the best filing status – You might choose Married Filing Jointly or Married Filing Separately. Calculate it both ways to see which provides the higher refund.
To find out more about each of these tips, read the full article IRS Summer Tax Tip Advice to Newlyweds.
Credit to irs.gov
IRS Summer Tax Tip Advice to Newlyweds