Tax Checklist for Newlyweds: What You Need to Know After Saying “I Do”
Summer is a popular season for weddings, and with all the planning that goes into starting a new life together, taxes might be the last thing on your mind. However, making a few smart tax-related updates early on can help you avoid surprises and simplify your filing process when tax season rolls around.
If you've recently tied the knot, here’s a helpful tax checklist to guide you through the essential steps every newlywed should consider.
1. Report Any Name Changes
If either spouse changes their last name after marriage, it's important to notify the Social Security Administration (SSA) right away. The name on your tax return must match what's on file with the SSA. A mismatch could result in processing delays or even hold up your tax refund.
To update your information, file Form SS-5, Application for a Social Security Card, which is available on SSA.gov, by calling 800-772-1213, or by visiting a local SSA office.
2. Update Your Address
Moving in together? Don’t forget to notify key agencies and organizations of your new address, including:
The U.S. Postal Service
Your employer(s)
The Internal Revenue Service (IRS)
To officially change your address with the IRS, complete and submit Form 8822, Change of Address. Detailed instructions are available on page 2 of the form.
3. Check and Update Your Withholding
Marriage can change your tax situation, especially if both spouses work. It may place you in a higher tax bracket or trigger the additional Medicare tax. To avoid underpayment or a surprise tax bill, both spouses should:
Submit a new Form W-4, Employee's Withholding Certificate, to their employers within 10 days of the marriage.
Use the IRS Tax Withholding Estimator on IRS.gov to help determine the right amount of tax to withhold.
Taking this step now can help you avoid overpaying or underpaying taxes during the year.
4. Review Your Filing Status
As a married couple, you have two filing status options:
Married Filing Jointly
Married Filing Separately
Most couples benefit from filing jointly, which often results in a lower tax rate and access to more tax credits and deductions. However, in some cases, such as when one spouse has significant medical expenses or miscellaneous deductions, filing separately may result in a lower combined tax bill.
To determine the most advantageous filing status, consider calculating your taxes both ways or consult a tax professional.
Final Thoughts
Marriage brings many exciting changes—and a few tax considerations as well. By taking the time to update your records, review your withholding, and understand your filing options, you’ll set yourselves up for a smoother and potentially more beneficial tax season.
For more tools, forms, and resources, visit IRS.gov.
