Taxes: Does Anyone Know?

[jtaylo69]

Hi all,

 

I was reading something over on the Visa Journey site in their FAQ section & in there it made a mention about the following:

 

The first tax return filed after marriage just may get you a significantly larger refund.

 

 

After much searching around, I have yet to find out any more than what I do now. Can anyone help to shed some light on this subject and if so, what are the steps,

 

 

Thanks

[LeeFisher3]

Take a look at this Tax Filing

[yuehan123]

Check out very carefully the references Lee gave. There is a gold mine of need to know and use tax information in that thread.

[Randy W]

Hi all,

 

I was reading something over on the Visa Journey site in their FAQ section & in there it made a mention about the following:

 

The first tax return filed after marriage just may get you a significantly larger refund.

 

 

After much searching around, I have yet to find out any more than what I do now. Can anyone help to shed some light on this subject and if so, what are the steps,

 

 

Thanks

 

 

In a nutshell, you were single for almost the entire year of 2005. So your withholding tax was calculated at the higher single rate. When you got married, (and filed a new W-4 as married), your tax would be withheld at the lower married rate.

 

But when you file your return, you claim "Married". Then you get a refund of all the extra "single" withholding you paid during the year until November - your "Married" status counts for the entire year.

 

For 2006, your withholding will be at the lower, married rate for the entire year - meaning there is less money to get refunded.

 

 

 

So you had 11 months of with