2006-11-13 07:11:10 · 4 answers · asked by Donna S 2 in Business & Finance ➔ Taxes ➔ United States
If you're talking about changing your W-4, that only changes the amount withheld from your paychecks, and does not change your eventual tax liability when you file your return. If you don't make the change, you might have more withheld from your paychecks but get it back in your refund. Since this gives Uncle Sam an interest-free loan, not real sensible. Timing of changing your W-4, before or after the new year, doesn't matter much.
If you got married in 2006, even on December 31, you're considered married for the entire year when you file your return. You'll file as married, probably jointly unless there's some reason to file as married filing single which usually costs you more.
2006-11-13 07:38:54 · answer #1 · answered by Judy 7 · 1⤊ 0⤋
Do you mean, should you fill out a new W-4 for your employer? You may benefit from that, since in general a married couple will pay less tax than two single people with the same incomes. However, you should be careful not to be underwithheld, since the withholding tables are based on the assumption there is just one wage earner in the family.
If you are married at the end of the year, you may not file separately as single taxpayers. You must file as married, either jointly or separately. Normally, it is better to file jointly.
2006-11-13 07:36:55 · answer #2 · answered by TaxGuru 4 · 1⤊ 0⤋
Those that are married on or before 12/31 are considered to have been married all year and may use Married Filing Joint (MFJ) or Married Filing Separate (MFS) when they file their return. Normally they would want to use MFJ and would have been withholding as single which would be a greater amount, thus they will have a slightly larger refund than they would have collectively as two single filers.
2006-11-13 07:28:19 · answer #3 · answered by ? 6 · 1⤊ 0⤋
YES
2006-11-13 07:13:41 · answer #4 · answered by Anonymous · 0⤊ 0⤋