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Tax Tip of the Week | No. 254 | Filing Facts for Recently Married or Divorced Taxpayers June 11, 2014

Posted by bradstreetblogger in : Tax Planning Tips, Tax Preparation, Tax Tip, Taxes, Taxes, Uncategorized , trackback

Tax Tip of the Week | June 11, 2014 | No. 254 | Filing Facts for Recently Married or Divorced Taxpayers

Since so many marriages occur in June, we are rerunning this tip….

If you were married or divorced recently, there a couple of things you’ll want to do to ensure the name on your tax return matches the name registered with the Social Security
Administration.

1.     If you took your spouse’s last name or if both spouses hyphenate their names, you may run into complications if you don’t notify the SSA.  When newlyweds file a tax return using their new last name, IRS computers can’t match their Social Security Number.

2.      If you were recently divorced and changed back to your previous last name, you’ll also need to notify the SSA of this name change.

3.    To notify the SSA of a name change you’ll need to file Form SS-5. (http://www.socialsecurity.gov/online/ss-5.pdf    You can also file this form by visiting your SSA office.

4.    If you adopted your spouse’s children after getting married, you’ll want to make sure the children have an SSN.  For adopted children without SSNs, the parents can apply for an Adoption Taxpayer Identification Number (ATIN).  This W-7A form http://www.irs.gov/pub/irs-pdf/fw7a.pdf) is filed with the IRS.

5.    It takes the SSA about two weeks to have the change verified—so be sure to do this prior to filing your tax return.

You can contact us in Dayton at 937-436-3133 and in Xenia at 937-372-3504.  Or visit our website.

Rick Prewitt – the guy behind TTW

…until next week.

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