Tax Issues Related to Marriage

What are tax issues related to marriage?

If you're married (or about to be married), financial planning is certainly important. It's also important for you to be aware of the income tax ramifications of your decisions. Although there are a number of tax issues related to marriage, you should pay particular attention to your selection of an income tax filing status. Thorough familiarity with the filing status rules applicable to married couples requires some knowledge of the rules for innocent spouse relief and injured spouse claims. Along with filing status, married couples might wish to know how to perform a second income analysis, which measures the after-tax benefit of both spouses working.

Same-sex marriages are now recognized by every state and the federal government. However, for federal tax purposes, marriage does not include registered domestic partnerships, civil unions, or similar formal relationships recognized under state law.

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