It may not be as high on the wedding plan checklist as the venue, invitations and
attire, but there are important tax issues created by a marriage that warrant some
prompt attention following the wedding.
Name change. Anytime names are changed, it should be reported to the
Social Security Administration (SSA). The name associated with an individual's Social
Security Number (SSN) should match the name on the tax return. To change a name with
the SSA, file Form SS-5, "Application for a Social Security Card." The form is
available from www.ssa.gov, by calling (800) 772-1213, or from the local SSA office.
Address change. Let the IRS know about an address change by filing
Form 8822, "Change of Address." Also notify the U.S. Postal Service at www.usps.com
to forward mail. You may also report the change at your local post office.
Change tax withholding. A change in marital status requires that a
new Form W-4, "Employee's Withholding Allowance Certificate," be furnished to the
employer(s). Combined incomes may move the taxpayers into a higher tax bracket.
Search www.irs.gov for the IRS Withholding Calculator tool for help completing the
new Form W-4.
Change in filing status. Marital status is determined as of December
31 each year. Spouses can choose to file jointly or separately each year. We can help
you make that determination by calculating your tax liability both ways.
Change in circumstances. Taxpayers receiving an advance payment of
the health care premium tax credit in 2014 should report changes in circumstances,
such as a change in income or family size, to the Health Insurance Marketplace. Also,
the Marketplace should be notified when you move out of the area covered by your
current Marketplace to ensure you get the proper type and amount of financial
This publication is distributed with the understanding that the author, publisher and
distributor are not rendering legal, accounting or other professional advice or
opinions on specific facts or matters, and, accordingly, assume no liability
whatsoever in connection with its use. The information contained in this newsletter
was not intended or written to be used and cannot be used for the purpose of (1)
avoiding tax-related penalties prescribed by the Internal Revenue Code or (2)
promoting or marketing any tax-related matter addressed herein. © 2014