Now that you are a married couple, your tax situation will be different. It’s best to prepare as early as possible. That’s why we’ve put together a basic tax prep checklist that should make it simpler and easier to file your tax return as a married couple. Here are five things you’ll need to do to get ahead of your tax situation:
1. Get a new Social Security card
When you file a tax return, your name and SSN must match the records held by the Social Security Administration. If one of you changed your name, you’ll need to report the change and file for a new social security card. Learn more
2. Change your withholdings
When you started at your job, your employer asked you to fill out the W-4 Employee’s Withholding Allowance Certificate. The amount of federal income tax that has been withheld from your pay is based on your personal and financial situation at that time. Now that you’re married, you’ll want to revisit the Form W-4 and change your marital status. Note: if you and your spouse both work, your combined incomes may move you into a higher tax bracket.What W-4 Allowances do You Qualify For?
3. Report your new address
Did you move into a new place after your wedding? If one or both of you now has a different address, be sure to let the IRS know by filling out a Form 8822, Change of Address.
4. Decide what your filing status will be
You’re no longer single, so you can’t file as single. You’ll need to choose between married filing jointly and married filing separately. You may want to figure the tax both ways to find out which status results in the lowest tax. Learn more about married filing jointly vs. separately.
I got married in November. Am I still supposed to file as married for the whole year?
Yes. When you are married anytime before Dec. 31 of the current tax year, that is your marital status for the entire year for tax purposes.
5. Notify the Health Insurance Marketplace
If you purchase your health insurance through the Health Insurance Marketplace, certain factors like marriage, family composition, and changes in income will affect how much you receive as your premium tax credit.
Now that you are married, you’ll need to report the changes in circumstances to the Marketplace. This will allow them to adjust your advance payment amount and ensure that your premium tax credit is accurate when you file your return.
This article was last edited on September 17, 2021. The information is up to date for tax year 2021 (returns filed in 2022).