Tax Issues to Keep in Mind When You Get Married

Getting married is a glorious event, certainly one of theincredibly easy to fill out, so just take the 5 minutes to
most important in your life. That being said, the sheerdo it.
joy involved can easily result in missing out on someThe second step is to notify the IRS of any address
practical issues that can pop up. This includeschange. This should also be done with your employer.
remembering to handle some administrative things withRegardless, sending direct notice to the IRS will help
your taxes.prevent any major problems with notices and refund
While all your friends and family know you are gettingchecks going to old addresses.
married, you dear friends at the IRS do not! YouThe third and final step actually is not mandatory, but it
probably could not care less, but it can lead toshould be undertaken. As a married couple, you are
problems. For instance, you might file taxes in thenow probably a two income family. Why does this
coming year under a different or modified name. Thismatter? Well, your combined income may bump you
will be tagged in the IRS computer, but probably will notup into a higher tax bracket. This can result in a bad
be updated for a year or two. As a result, the IRSsurprise when you hit the end of the year and find out
might not acknowledge getting your return or mightyou owe a sizeable chunk of change to the IRS and
send any refund to an older address. Neither is a goodprobably your state tax agency as well. Take the time
thing! So, what should you do?to sit down and go through your new financial situation.
The first step is not to contact the IRS. Odd, eh? TheIf necessary, adjust your withholdings so that you
agency you need to contact is the Social Securityavoid owing money when the 15th comes around.
Administration. The IRS tracks individuals through socialTaxes are the last thing newlyweds want to deal with.
security numbers, so getting your information updatedThat is certainly understandable. Enjoy your wedding
with the Administration using form SS-5 is the way toand honeymoon. Just make sure you take a few
go. Many people don't do this and a huge mess canminutes to deal with these issues when you get back
result as social security withholdings in paychecks areso you don't run into problems down the line.
applied to the wrong account and so on. The form is