If you or someone you love is getting married, keep these important tax issues in mind. Taking care of them now can help reduce your stress at tax time.
Change names: IRS rules require that the names and Social Security numbers on your tax return match your Social Security Administration records. To formally change your name, file Form SS-5, “Application for a Social Security Card,” with the Social Security Administration.
Change filing status: If you’re married on or before December 31, you are considered married for the whole year as far as tax purposes are concerned. You and your spouse can choose to file your federal income tax return either jointly or separately each year. You may want to ask a tax professional to run the numbers and see which status results in the lowest tax liability.
For more information about filing taxes as a newlywed, consult a tax professional in your area.
* This information is not intended to be a substitute for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax professional.
Tip adapted from IRS.gov[11]
[11] IRS.gov, March 5, 2019
