Key Takeaways:
- Filing Taxes Jointly For The First Time: Filing taxes jointly as a couple can unlock new tax credits and deductions, but it also requires careful navigation of updated paperwork and legal requirements.
- Ensuring Name Consistency: It’s crucial to ensure your name is consistent with the Social Security Administration to avoid processing delays, especially when changes occur due to marriage or divorce.
- Organizing Necessary Documents: Having all your paperwork organized and readily available can significantly impact the ease and accuracy of your joint tax filing experience.
There’s a certain kind of thrill that comes with ticking off milestones together. Maybe you just walked down the aisle, moved in together, or finally got into the groove of splitting bills. Now, here comes another big one for the books: filing taxes jointly for the very first time. If the idea alone fills you with dread, you’re not alone.
Filing your taxes together may unlock credits and deductions you never qualified for before, but it also comes with its own maze of paperwork, choices, and “wait, did we sign up for this?” moments. Add to that the need to update your name everywhere after marriage or divorce, and suddenly, tax season can feel like the ultimate stress test.
Here at NewlyNamed, we’re all about demystifying those moments and making transitions feel a whole lot smoother. This guide will walk you and your partner through the ins and outs of how to file taxes jointly for the first time.
Ready to team up for tax season? Let’s dive in, side by side.
Eligibility Requirements For Filing Jointly
Before diving into the logistics of filing taxes jointly for the first time, it’s important to make sure you meet the eligibility requirements. Not every couple can file together, and there are some boxes you’ll need to check before the IRS lets you take advantage of this filing status.
Legal Marriage Status
To file jointly, you must be legally married by December 31 of the tax year. It doesn’t matter if your wedding happened just hours before midnight on New Year’s Eve—the IRS considers you married for the whole year as long as you tied the knot before the clock struck twelve. If you and your partner are living together but aren’t legally married, you won’t be able to file under the "Married Filing Jointly" status.
Marriage Recognition
It doesn’t matter where your marriage took place (whether in the U.S. or abroad) so long as the marriage is legally recognized in the place where it occurred. However, if you’re in a registered domestic partnership or civil union (not a legal marriage), the IRS unfortunately doesn’t treat that the same way. You won’t be able to file jointly in these two situations.
Social Security Number Or ITIN
Both spouses must agree to file together, and each spouse must have a valid Social Security number or, in some instances, an Individual Taxpayer Identification Number (ITIN). And if either of you was married earlier in the year and finalized a divorce, annulment, or legal separation, we highly recommend you double-check your status. You can’t file jointly with a new spouse if your previous marriage hasn’t legally ended.
Special Circumstances
There are situations where filing jointly might not make financial sense—or even be allowed. For instance, if you're living apart and meet certain requirements, you may need to file as "Head of Household." Be sure to check IRS guidelines or consult with a tax professional to ensure filing jointly is the right choice for your circumstances.
In summary, as long as you’re legally married, have valid taxpayer identification numbers, and agree to file together, you’re good to go! If any of this feels murky (e.g., blended families or other special situations), consider reaching out to a tax professional or reviewing IRS guidelines to make sure you’re on the right track.
How Marital Status Affects Your Tax Filing
When you’re determining your options for joint filing, what matters most is your marital status on December 31st. If you’re legally married by the end of the year, the IRS considers you married for the entire year. From there, you have two primary filing options: “Married Filing Jointly” or “Married Filing Separately.” Choosing the right path can affect your refund, what you owe, and even the paperwork you’ll need.
Benefits Of Filing Jointly
With a “Married Filing Jointly” return, you and your spouse combine your incomes, deductions, credits, and liabilities. This often results in a lower tax bill (thanks to higher income thresholds for certain credits and deductions), and generally makes life easier with less paperwork and only one tax return to fill out.
You’ll also be eligible for several benefits that make the process more tax-friendly. First, you’ll qualify for a higher standard deduction, which means more of your income will be tax-free. This is because the standard deduction for married couples filing jointly is generally double what it is for single filers. Filing jointly also opens the door to valuable tax credits, such as the Earned Income Tax Credit (EITC), which can reduce your tax liability or even result in a refund, depending on your income level.
Additionally, you may be eligible for education credits if you or your spouse have qualifying educational expenses, which can also reduce your tax bill. Perhaps most significantly, married couples filing jointly often benefit from lower tax rates compared to filing separately. Because your combined income is taxed at a lower rate, this can lead to a significant reduction in the overall amount of taxes you owe, making joint filing the preferred option for many couples. Overall, filing jointly gives you access to several tax-saving opportunities that can make a big difference when it’s time to file.
Benefits Of Filing Separately
While joint filing is usually the winner, there may be reasons for a couple to file separately, especially in certain financial or medical situations. For example, if one spouse has large medical bills, filing separately could allow them to deduct more of those expenses.
Medical expenses are only deductible to the extent they exceed 7.5% of your adjusted gross income (AGI). Filing jointly raises that threshold, potentially disqualifying some deductions. But if the spouse with medical bills has a lower individual income, filing separately reduces the AGI used in the calculation, making more of the expenses deductible.
Other reasons couples might choose to file separately include:
- One spouse has significant miscellaneous deductions (like unreimbursed business expenses) that are limited by AGI thresholds.
- To keep liability or refund issues separate in cases of divorce, separation, or distrust.
- One spouse is on an income-driven repayment plan for student loans and wants to keep the other spouse’s income out of the calculation.
- Protecting a refund if one spouse has federal debt or legal obligations (like back taxes or child support) that could trigger a refund offset.
Just keep in mind: filing separately often disqualifies you from credits and deductions like the Earned Income Tax Credit, education credits, and student loan interest deduction—so weigh the pros and cons carefully or consult a tax professional.
Quick Tip: Name Consistency Matters
Whether you’ve changed your name after marriage or kept your original one, it’s important to ensure your tax return matches the name registered with the Social Security Administration. A mismatch can trigger processing delays, and no one wants their refund stuck in limbo! In addition to ensuring your name matches, be sure your address is up to date with the IRS, especially if you’ve recently moved. This helps ensure your tax documents and refund are sent to the correct address.
If you’ve changed your name, start by completing the Form SS-5 for the SSA. After that, the IRS will automatically receive your updated information. If you’ve changed your address, file Form 8822 with the IRS to avoid having your tax documents mailed to the wrong place. If you're navigating a name change after marriage or divorce, tools like the NewlyNamed Box can help streamline the process with step-by-step instructions and pre-filled forms, making sure your name and address updates are in order before you file. Taking care of these administrative details now will help streamline your filing process and keep your tax season stress-free.
Steps To Filing Jointly for the First Time
So you’ve tied the knot, popped the champagne, and now it’s time for…taxes. If this is your first time filing jointly, don’t sweat it! We’ve created a list of clear, bite-sized steps to help you stay on track and not feel overwhelmed.
1. Gather Your Documents
Both partners will need their Social Security numbers, W-2s, 1099s, and any other tax documents. Double-check names and numbers; everything must match what’s on record with the Social Security Administration to avoid delays.
2. Choose The Right Filing Status
Select “Married Filing Jointly” on your tax form. This typically lowers your tax rate compared to filing separately (hello, savings!). Plus, you may unlock credits that are not available otherwise.
3. Combine Your Incomes And Deductions
When filing taxes jointly, you'll combine both of your incomes and any taxes that have already been withheld from your paychecks throughout the year. Deductions are expenses you can subtract from your total income to lower your taxable income, like mortgage interest or charitable donations. If you're “itemizing” deductions (instead of using the standard deduction), you need to carefully add these up to make sure you’re taking advantage of all the savings available to you.
4. Complete Your Tax Return
Whether you’re using tax software, a tax pro, or good old-fashioned paper forms, make sure both names and new addresses are correct. If one partner recently changed their name after marriage, be sure it's updated with the Social Security Administration to avoid filing hiccups.
5. Sign And Submit
Both of you must sign the return, whether paper or e-file. If you’re e-filing, you may need to provide last year’s AGI for electronic signatures.
AGI stands for Adjusted Gross Income. It’s your total income for the year, minus certain deductions, like student loan interest or retirement contributions. It’s used to figure out how much of your income is actually taxable. When e-filing, you may need to provide last year’s AGI to confirm your identity and sign the return electronically.
6. Decide How To Receive Your Refund Or Make A Payment
Set up a joint bank account for your direct deposit (optional, but it can make life easier), or plan how you’ll make a payment if you owe. If you're not sure where to start with setting up a joint account, check out our guide on how to create a joint bank account for all the details. As always, make sure to check those numbers before you hit submit.
7. Keep Copies For Your Records
Hold onto copies of everything—tax returns, W-2s, and supporting docs. It’s not the most glamorous part, but you’ll thank yourself later, especially if you need them for things like home loans down the line.
Remember: Filing jointly is a team effort, and it gets easier each year you do it together. Plus, those joint tax breaks are a nice win for the home team.
Collecting Necessary Documents And Information
Here’s a quick checklist to keep you organized and ready:
- Personal Information: Start by double-checking each other’s full legal names (as listed on your Social Security cards), Social Security numbers, and birthdates. If one of you recently changed your name, make sure the Social Security Administration has been updated, or you could run into issues with processing your return. If you're in the midst of a name change, consider using the NewlyNamed Box to streamline the process and ensure your documents are in order.
- Income Documents: Both of you will need to round up any W-2s if you’re employed, or 1099 forms for freelance or contract gigs. Don’t forget investment income statements (1099-INT, 1099-DIV, 1099-B), unemployment forms, or other sources like Social Security benefits.
- Adjustments & Deductions: Gather receipts and documentation for deductions and credits you might qualify for—things like student loan interest, retirement contributions (IRA, HSA), and child care expenses. If you own property, be sure to include mortgage interest statements and proof of real estate taxes paid.
- Healthcare Information: If either of you received healthcare through the Marketplace, you’ll both need Form 1095-A. For employer-provided or other coverage, keep your 1095-B or 1095-C handy.
- Dependent And Childcare Details: If you have kids or anyone you’ll claim as a dependent, collect their Social Security numbers, dates of birth, and documentation of any childcare expenses paid.
- Last Year’s Tax Return: Having last year’s tax return in front of you can help answer some of this year’s questions, like your AGI, carryover amounts, or state filing requirements.
- Direct Deposit Info: Decide where any refund should go, and collect the correct routing and account numbers.
Pro tip: Create a shared “taxes” folder (physical or digital) so you both have access to documents and can keep everything in one place. The more organized you are now, the less time you’ll spend hunting for missing paperwork and the more confident you’ll feel when it’s time to file.
Final Thoughts
Filing taxes jointly for the first time is a big step that comes with a mix of excitement, questions, and (let’s be honest) paperwork. It’s a chance to start working through significant responsibilities together as a couple.
If you’re changing your name as part of your new journey, NewlyNamed is here to make your life easier. Our Print at Home Name Change Kit and the NewlyNamed Box cover everything from your Social Security card and passport to your bank accounts and loyalty programs. No need to stress about missing a step or forgetting an important form—our kits walk you through the process, taking the logistical stress off your shoulders.
Remember, smooth joint tax filing starts with up-to-date personal information. Use this as an opportunity to get organized together, ask questions, and celebrate your new chapter. And if name change paperwork is looming over your shoulder, let NewlyNamed help you check it off your to-do list. You’ve got this!
Read also:
- What Is Joint Credit And How Does It Work?
- Financial Advice For Married Couples: Smart Money Moves For A Stronger Relationship
- How To Organize Important Documents Without Getting Overwhelmed
Frequently Asked Questions About How To File Taxes Jointly For The First Time
What happens if one spouse owes back taxes or child support?
If one spouse has outstanding back taxes (unpaid taxes that they still owe from previous years) or child support, the IRS can withhold your joint refund to cover those debts. But there’s a solution! You may be able to file an "injured spouse allocation" form, which helps protect the refund portion that belongs to the spouse who isn’t responsible for the debt. It’s a good idea to address this before filing your joint return to avoid any unexpected surprises down the line.
Can we file jointly if we have separate businesses or freelance income?
Yes, you absolutely can! Having separate businesses or freelance gigs doesn’t prevent you from filing jointly. On your joint return, each of you will report your individual income, business expenses, and deductions. Filing jointly might even work in your favor, thanks to higher standard deductions or better tax rates. Just be sure you have all the necessary paperwork on hand—think 1099s, business expenses, and records for each business.
How do we handle individual student loan interest when filing jointly?
Even when filing jointly, each spouse will report their individual student loan interest separately. You can each deduct up to $2,500 of student loan interest you paid on loans in your name, provided you meet the income limits set by the IRS. Double-check your numbers to ensure you’re taking full advantage of this deduction—you don’t want to miss out on savings!
What should we do if we are missing tax documents for our joint return?
Missing tax documents? Don’t stress. Start by reaching out to your employer, bank, or the organization that issued the form to request a copy. If you’re still missing documents, the IRS offers a "Get Transcript" tool that allows you to view the income reported to them under your Social Security numbers. Don’t guess—always use the official numbers to avoid future issues with the IRS.
Do we both need to sign the joint tax return?
Yes, both spouses must sign the joint tax return, whether you’re filing electronically or by mail. If one spouse is unavailable, a valid Power of Attorney will be needed so that the other spouse can sign on their behalf.
What if we have different residency statuses? Can we still file jointly?
In some cases, yes. If one spouse is a U.S. citizen or resident and the other is not, you may still file jointly, but it requires making a special election on your tax return. This may mean both spouses’ worldwide incomes will be taxed by the U.S. It’s a good idea to consult a tax professional or carefully review the IRS guidelines to ensure that this is the best option for both of you.
