Tuesday, June 2, 2009

IRS Offers Advice for Newlyweds

It may not be high on the wedding planning to-do list, but there are a few, simple steps that can help keep tax issues from interrupting newly-wedded bliss. Here are some practical things to attend to when the honeymoon's over:

¨ Report any name change to the Social Security Administration, so your name and SSN will match when you file your next tax return.

¨ Report any address change to the U.S. Postal Service. You may also notify the IRS directly by filing IRS Form 8822, Change of Address.

¨ Report any name and address changes to your employer to ensure receipt of your paychecks and Form W-2 during tax season.

¨ Consider whether you'll file joint or separate tax returns.

¨ Check your withholding status using the automated “IRS Withholding Calculator” available on the “Individuals” page at the IRS.gov Web site.

¨ If you're buying a home, find out which expenses may be deductible and which are not at IRS.gov.

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