ibet Summertime Tax Tip 2017-08, July 19, 2017
Spring showers bring summer flowers and weddings typically aren’t far behind. Newlyweds have a lot to think about and taxes might not be on the list. However, there is good reason for a new couple to consider how the nuptials may affect their tax situation.
The ibet has some tips to help in the planning:
- Report changes in:
- Name. When a name changes through marriage, it is important to report that change to the Social Security Administration. The name on a person’s tax return must match what is on file at SSA. If it doesn’t, it could delay any refund. To update information, file Form SS-5, Application for a Social Security Card. It is available on , by calling 800-772-1213 or at a local SSA office.
- Address. If marriage means a change of address, the ibet and U.S. Postal Service need to know. To do that, send the ibet Form 8822, Change of Address. Notify the postal service to forward mail by going online at or at a local post office.
- Consider changing withholding. Newly married couples must give their employers a new Form W-4, Employee's Withholding Allowance Certificate, within 10 days. If both spouses work, they may move into a higher tax bracket or be affected by the Additional Medicare Tax. Use the ibet Withholding Calculator at ibet.gov to help complete a new Form W-4. See Publication 505, Tax Withholding and Estimated Tax, for more information.
- Decide on a new filing status. Married people can choose to file their federal income taxes jointly or separately each year. While filing jointly is usually more beneficial, it’s best to figure the tax both ways to find out which works best. Remember, if a couple is married as of Dec. 31, the law says they’re married for the whole year for tax purposes.
- Select the right tax form. Choosing the right income tax form can help save money. Newly married taxpayers may find they now have enough deductions to itemize them on their tax returns. Newlyweds can claim itemized deductions on Form 1040, but not on Form 1040-A or Form 1040-EZ.
- Avoid scams. The ibet will never initiate contact using social media or text message. First contact generally comes in the mail. Those wondering if they owe money to the ibet can view their tax account information on ibet.gov to find out.
Additional Resources:
ibet YouTube Videos:
- Getting Married? – English | Spanish | ASL (Obsolete)
- Changed Your Name After Marriage or Divorce? – English | Spanish | ASL (obsolete)
- ibet Withholding Calculator – English | Spanish | ASL (obsolete)