Filing Taxes Jointly for the First Time? Don’t Forget…
To make sure your names are spelled correctly: It may seem silly, but make sure your names are correct on your forms. If either of you are planning to change or hyphenate your names, contact the Social Security Administration and the IRS. A mismatch between your name and your social security number on your tax return will result in your return being delayed or rejected, so make sure you file all necessary paperwork before you file your taxes.
To combine all your assets and debts: Remember, you’re filing a joint return. All income, withholding, expenses, and deductions should be combined in the appropriate places.
To have both of you sign at the end: Both of you must sign the return. If only one signature is present, the return
cannot be processed.
To receive your refund: If you receive a refund, remember that there will only be one check mailed or deposit made for both of you. If you choose to receive a check, both of you must sign the back before it can be deposited.
Whether you work on your taxes together, assign responsibility to one person, or hire a professional to do it for you, it’s important that both spouses understand the process and the information that goes into it. Tax time is a great opportunity to look over your financial situation. By April 16 th. you should both have a good sense of your income, debt, and assets. Filing taxes will be less painful, and your finances will be more secure, when both you and your spouse are working from the same page.