After the Wedding Day, Tax Solutions

Summer is typically a favored season for weddings because of its sunny days and balmy nights.

It's also a time when brides-to-be plan everything from the flowers down to the band. Once the day arrives, it's full of love, family unity and the beginning of a new future for the lucky couple. 

And when the wedding day is over, the honeymoon has been taken, and you're settling into your new life, then what? In between sorting out wedding gifts and rearranging furniture, you might want to think about taxes. Say what?

Although next year’s tax day seems far away now, it will be here before you know it. Here are four simple steps offered by the Internal Revenue Service after you have tied the knot to make preparing your first joint income tax return less stressful.

Step 1: Marriage can mean a change in name. Ensure the names you will enter on your first tax return match the names and Social Security numbers on file with the Social Security Administration. Make the change with SSA as soon as possible if there is a spousal name change.

Step 2: Even if you get married Dec. 31, 2011, you are considered to have been married for the entire year. Check your withholding to be sure you are having enough taxes taken out of your paychecks. If you both work, your combined income may place you in a higher tax bracket
The IRS withholding calculator will help you figure the correct amount of withholding for a married couple. Making a change to your withholding now can eliminate or reduce a tax bill next year. Use Form W-4, Employee’s Withholding Allowance Certificate, to make the needed adjustments and give the form to your employer.

Step 3: Make sure the IRS knows of your correct mailing address. Either notify the U.S. Postal Service or complete and mail IRS Form 8822, Change of Address form, to the address listed on page 2 of the form.

Step 4: Just in case you forgot to invite your employers to the wedding, let them know about any name and address changes as soon as possible. This will ensure that you receive your Form W-2, Wage and Tax Statement, at the right time to file. Also, ensure other payers, such as banks and investment companies, have your updated name and address.
You may be wondering how being married will affect your taxes. When you file your return, you will be able to choose between filing jointly with your spouse (which may lower your combined tax) or using the filing status called married and filing separately.

When it comes to wedding planning, details are important. So take these steps now to ensure that your first tax season as husband and wife goes as smoothly as your wedding.

Forms are available on irs.gov or call the IRS forms number
at 800-829-3676.