– Newly married individuals should report any name changes to the Social Security Administration to ensure their tax return matches the information on file.
– If a change of address occurs, individuals should complete and send IRS Form 8822, Change of Address, and notify the U.S. Postal Service.
– Couples should consider changing their withholding after getting married and provide their employers with a new Form W-4, Employee’s Withholding Allowance within 10 days.
– Married individuals can choose to file their federal income taxes jointly or separately each year, and should consider both options to determine which is most beneficial.
– Taxpayers should be aware of and avoid tax scams, as the IRS will not initiate contact using email, phone calls, social media, or text messages. – Income tax planning helps individuals and businesses strategize their financial decisions to minimize tax liability.
– Estate planning involves arranging for the transfer of a person’s assets after death, including wills, trusts, and other mechanisms.
– Tax preparation involves the process of preparing and filing tax returns for individuals and businesses.
– Tax controversies refer to legal disputes between taxpayers and tax authorities over tax liability.
– Offshore Voluntary Disclosure Program (OVDP) is a program designed for taxpayers with undisclosed foreign assets to come forward and resolve their tax obligations.
– Estate & Trust Administration involves managing and distributing the assets of a deceased person.
– Fiduciary litigation refers to legal disputes involving the actions and responsibilities of fiduciaries, such as trustees and executors.
– Will compromises and trust reformation involve legal processes to modify or challenge the terms of wills and trusts.
– Guardianships and conservatorships involve legal arrangements for individuals who are unable to manage their own affairs.
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