The 2020 guide for tax checklist for newly married couples in the US

The 2020 guide for tax checklist for newly married couples

in the US.

On your wedding day, taxes can be the last thing in your mind; but, tying the knot can have a huge impact on your tax situation. 

  • In the tax year 2020, single people would pay tax at the rate of 37% on the taxable income which is above $518,400.
  • For those married couples who are filing their tax returns jointly, the threshold is just $622,051 which is far from double the amount which is available for the single taxpayers. This can be a very significant tax penalty.
  • However, there are some cases in which the married would also get a marriage bonus. This means married couples would pay less income tax than they would have paid in case of being single.

 Here is a checklist of the important items which you must review if you are a newly married couple.


Change of name and address

 Name Change

 If you are changing your name through your marriage, you must report it to the Social Security Administration. Your name on your tax return must match the name which is present on the file at the SSA. If there is a mismatch, then it can lead to a tax refund. For updating this information, you can fill out Form SS-5. You can take the completed form to the local office of the SSA along with the documents which would prove your identity and a certified copy of your marriage certificate.

 In case, you are already at the tax filing deadline but have not changed your name with the SSA then you can file a joint return with your spouse by using the name mentioned in your Social Security Card.

 Address Change

 If there has been a change in your address due to marriage, then you must inform it to the IRS and the US Postal Services. You can do this by filing the IRS Form 8822 Change of Address. The postal services must be informed to forward your mails to your new address by going online at or by visiting the local post office.


 After marriage, you and your spouse must change the withholding. This can be done by filling out a new Form W-4. Newlywed couples must give this new Form W-4to their employers within 10 days. When both the spouses are working, they would move into a higher tax bracket or can be affected by the Additional Medicare Tax. The IRS Withholding Estimator on the website can be used to complete the new Form W-4.


The IRS has revised the Form W-4 for the tax year 2020. The new form would help determine how much federal income tax must be withheld from your paycheck based on your

  1. Filling status
  2. Other income
  3. Credits and deductions

 Filing Status

 Married people would be able to choose to file their income taxes either jointly or even separately. Even if filing jointly is more beneficial, it is good if you find out which works the best among both the ways. If you are married as of 31st Dec of the tax year, the IRS would consider you to be married for the full year.

 However, after marriage the process of filing tax returns with the Married filing separately Status would rarely work in reducing your tax bill. If you are choosing “Married but filing separately” Status, then it would have some special rules such as.

  1. You cannot deduct Student Loan Interest.
  2. You cannot claim the Earned Income Tax Credit
  3. You cannot claim the Child and Dependent Credit
  4. Your deduction related to Capital losses is limited to $1500 instead of $3000 which can be in case of a joint return.


 You need to be aware of and avoid the various tax scams. Any contact by the IRS will not be initiated by using the email, phone calls, or any other text messages. You can check out your details or if you think you owe money to the IRS, and then you must visit the IRS webpage and view your tax account.



 So, these tax rules and checklist would give you a clear idea about how your tax is going to be impacted after your wedding. You must know about the changes that would occur and the steps you must take to be eligible for availing the tax benefits after being a married couple.

Top #5 things to know about the 2020 IRS Form-W4

Top #5 things to know about the 2020 IRS Form-W4

Top #5 things to know about

the 2020 IRS Form-W4

Employees need to fill the IRS Form-W4 to intimate their employers about the amount which must be withheld from their paychecks. This amount which is to be withheld usually depends upon the filing status, tax credits, dependents, and deductions of an employee. In case the IRS Form-W4 of an employee is not filled correctly, then the employee might owe paying tax while filing tax returns.

The IRS has designed the new 2020 IRS Form-W4 by closely working with the payroll and tax community to help the taxpayers. By the new IRS Form-W4, taxpayers would be able to find out their correct withholding value. There have been various changes such as a reduction in the tax rates, changes in itemized deductions, the introduction of other dependent credits, etc. which led to the revamping of IRS Form-W4 in 2020.

Major 5 things to know about the 2020 IRS Form-W4

Major 5 things to know

about the 2020 IRS Form-W4

1.Different versions of Form-W4 on file

All the employees don’t need to fill the 2020 IRS Form-W4. The IRS has also designed withholding tables which can function with the new 2020 IRS Form-W4 and the previous versions of the Form W4. 

The revamped 2020 IRS Form-W4 must be filled in by the below-mentioned employees.

  • Those employees who have been newly hired in 2020 or 
  • Those who are willing to change their withholdings in 2020

2. The layout is completely different with new tax withholding tables

The layout of the 2020 IRS Form W4 looks completely different from systematic division into five steps and forms an entire page.

  • The first step would contain the entry of personal information and the anticipated filing status of an individual.
  • The second step is necessary for those employees who have either more than one job at a time or is married with working spouse and filing returns jointly.
  • In the third step, the child tax credit and credit for other dependents can be determined that can be claimed while filing returns.
  • This fourth step provides instructions for determining any other estimated income of the year, deductions other than standard deductions, and any other additional tax which the employee wants to be withheld.
  • The last step contains the employee’s signature and date below the penalties of perjury. 

Moreover, two new tables align with the new IRS Form-W4.

  • For Automated Payroll Systems, percentage method tables can be used.
  • For Manual Payroll Systems, wage bracket method tables can be used.

3. Personal withholding allowances are eliminated

This is the most important change in the IRS Form-W4 which distinguishes itself from Form-W4 of 2019. Previously, withholding allowances were used by employers for the determination of the income tax withholding.  Personal withholding allowances are the exemptions from the Federal Income Tax and the more allowances an employee claim the less amount would be withheld from his wages for income tax. However, now employees can easily claim dependents or other deductions on Form W4 rather than claiming withholding allowances for the reduction of federal income taxes.


4.Additional Adjustments

The fourth step of the 2020 IRS Form-W4 is associated with the additional adjustments that can be made. However, this step is optional and would be feasible in instances such as

  • Adjustments for additional withholding can be made if there are other income sources like retirement income or any income from dividends.
  • The withholdings can be reduced in this section if any such deductions are different from standard deductions like interest on a student loan, any additional tax deductions, etc.
  • Any additional income tax can be entered such as any amount which can be deducted from paychecks including any amount which needs adjustments.

5.Importance on dependents and other tax credits

The 2020 IRS Form-W4 helps employees in indicating if they are eligible for availing the Child Tax credit and any other dependent credits. Employees who are interested in the actual refining of their withholding amount more accurately can also include additional credits such as Education tax credits. These credits can be included in the Form W4 by Step 3 of the Five-Step Process. 

Hence, it can be said that the new Form-W4 can be filled if there are any changes in the financial situation of an individual.