· Notify the Social Security Administration It’s important that your name and Social Security nu

If you've recently updated your status from single to married, you're not alone – late spring and summertime are popular periods for weddings. Marriage also brings about some changes with your taxes. Here are several tips for newlyweds from the IRS:
·   Notify the Social Security Administration   It's important that your name and Social Security number match on your next tax return, so if you've taken on a new name, report the change to the Social Security Administration. File Form SS-5, Application for a Social Security Card. The form is available on SSA's website at www.ssa.gov , by calling 800-772-1213 , or visiting a local SSA office.
·   Notify the IRS if you move   IRS Form 8822, Change of Address, is the official way to update the IRS of your address change. Download Form 8822 from IRS.gov or order it by calling 800-TAX-FORM (800-829-3676 ).
·   Notify the U.S. Postal Service   To ensure your mail – including mail from the IRS – is forwarded to your new address, you'll need to notify the U.S. Postal Service. Submit a forwarding request online at www.usps.com or visit your local post office.
·   Check your withholding   If you both work, keep in mind that you and your spouse's combined income may move you into a higher tax bracket. You can use Publication 505, Tax Withholding and Estimated Tax, to help determine renaissance prague hotel the correct amount of withholding for your marital status, and it will also help you complete a new Form W-4, Employee's Withholding Allowance Certificate. Fill out and print Form W-4 online and give it to your employer(s) so the correct amount will be withheld from your pay.
·   Select the right tax form   Choose your individual income tax form wisely because it can help save you money. Newlywed taxpayers may find that they now have enough deductions to itemize on their tax returns rather than taking the standard deduction. Itemized deductions must be claimed on a Form 1040, not a 1040A or 1040EZ.
·   Choose the best filing status   A person's marital status on Dec. 31 determines whether the person is considered married for that year for tax purposes. Tax law generally allows married couples to choose to file their federal income tax return either jointly or separately in any given year. Figuring the tax both ways can determine which filing status will result in the lowest tax, but filing jointly is usually more beneficial. Bottom line: Planning for your wedding may be over, but don't forget about planning for the tax-related changes that marriage brings. renaissance prague hotel More information about changing your name, address and income tax withholding is available on IRS.gov. IRS forms and publications can be obtained from IRS.gov or by calling 800-TAX-FORM (800-829-3676 ).
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