A lot goes into planning a wedding. The stress a bride faces comes from a variety of sources: what dress color will please all of the bridesmaids, which photographer is the perfect fit, where will Cousin Eddy sit, which store is the best for the registry, and so on. With all the details needing attention, few brides worry about the legalities before a marriage. And while the honeymoon may not be over, there’s a lot of paperwork to fill out and file in order to remain “happily ever after”.
Liberty Tax® wants to remind blushing brides of a few things they need to do in order to establish their new status.
- First off, your name must match your Social Security number on your tax return. So you need to record your name change with the Social Security Administration (SSA) by filing Form SS-5 (Application for Social Security Card). For more information, visit their website at ssa.gov.
- Next, let you employer know if you’ve had a name or address change. Typically, W-2s are mailed at the end of the year. Keep your Human Resources department updated on your personal information. This holds true if you receive direct deposits and are changing your bank or opening new accounts.
- Lastly, if you are changing your address, submit your updated information to the Internal Revenue Service (IRS) by filing Form 8822 (Change of Address). You can also find this form on their website.
Other tips you might want to consider:
- If you are married as of December 31, that is what the IRS considers your status for the whole year – married.
- If both you and your spouse work, check your withholdings on your W-4 – when you and hubby combine incomes you might be in a higher tax bracket. Adjust your W-4 so you don’t owe at the end of the year.
- If you couldn’t itemize before marriage, you may be able to now. You may save money by itemizing where you can.
- If you file jointly, it may be more beneficial but not always. You’ll want to figure out which filing status results in the lowest tax owed.
Don’t let all this information bog your brain down. Visit your local Liberty Tax® next tax season and everything will be covered. Besides, if you think all this paperwork is tough, try writing that thank you card to Cousin Eddy for his gift that was not listed on the registry.