IRS Tax Tip 2023-91, July 19, 2023

Anybody saying “I do” this summer time ought to assessment a number of tax-related gadgets after the marriage. Huge life adjustments, together with a change in marital standing, usually have tax implications. Right here are some things {couples} ought to take into consideration after they tie the knot.

Identify and tackle adjustments

Individuals who change their identify after marriage ought to report it to the Social Safety Administration as quickly as attainable. The identify on an individual’s tax return should match what’s on file on the SSA. If it does not, it might delay any tax refund. To replace info, taxpayers ought to file Kind SS-5, Utility for a Social Safety Card. The shape is out there on SSA.gov, by calling 800-772-1213 or at a neighborhood SSA workplace.

If marriage means a change of tackle, the IRS and U.S. Postal Service have to know. To do this, folks ought to ship the IRS Kind 8822, Change of Deal with. Taxpayers also needs to notify the postal service to ahead their mail by logging on at USPS.com or by visiting their native publish workplace.

Double-check withholding

After getting married, {couples} ought to take into account altering their withholding. Newly married {couples} should give their employers a brand new Kind W-4, Worker’s Withholding Allowance inside 10 days. If each spouses work, they might transfer right into a higher tax bracket or be affected by the extra Medicare tax. They will use the Tax Withholding Estimator on IRS.gov to assist full a brand new Kind W-4. Taxpayers ought to assessment Publication 505, Tax Withholding and Estimated Tax for extra info.

Submitting standing

Married folks can select to file their federal revenue taxes collectively or individually annually. For many {couples}, submitting collectively makes probably the most sense, however every couple ought to assessment their very own state of affairs. If a pair is married as of December 31, the legislation says they’re married for the entire 12 months for tax functions.