New marriage equals new tax responsibilities. Here are a few marriage tax tips to consider.
These new responsibilities include:
- Reporting name changes to the Social Security Administration
- Changing tax withholdings by giving employers a new Form W-4 (Employee’s Withholding Allowance Certificate)
- Filing Form 8822 (Change of Address) with the IRS to report any address changes.
- In addition, newly-married couples with a Health Insurance Marketplace plan who received an advance premium assistance credit will need report any changes in circumstances to the Marketplace.
- Need help? Let Hedley & Co. guide you through your new changes and help you understand the long term tax implications.