Drought-Stricken Farmers and Ranchers Have More Time to Replace Livestock; 30 States Affected

Drought-Stricken Farmers and Ranchers Have More Time to Replace Livestock; 30 States Affected

WASHINGTON — Farmers and ranchers who previously were forced to sell livestock due to drought, like the drought currently affecting much of the nation, have an extended period of time in which to replace the livestock and defer tax on any gains from the forced sales, the Internal Revenue Service announced today.

Farmers and ranchers who due to drought sell more livestock than they normally would may defer tax on the extra gains from those sales. To qualify, the livestock generally must be replaced within a four-year period. The IRS is authorized to extend this period if the drought continues.

The one-year extension of the replacement period announced today generally applies to capital gains realized by eligible farmers and ranchers on sales of livestock held for draft, dairy or breeding purposes due to drought. Sales of other livestock, such as those raised for slaughter or held for sporting purposes, and poultry are not eligible.

The IRS is providing this relief to any farm located in a county, parish, city, borough, census area or district, listed as suffering exceptional, extreme or severe drought conditions by the National Drought Mitigation Center (NDMC), during any weekly period between Sept. 1, 2013, and Aug. 31, 2014. All or part of 30 states are listed. Any county contiguous to a county listed by the NDMC also qualifies for this relief.

As a result, farmers and ranchers in these areas whose drought sale replacement period was scheduled to expire at the end of this tax year, Dec. 31, 2014, in most cases, will now have until the end of their next tax year. Because the normal drought sale replacement period is four years, this extension immediately impacts drought sales that occurred during 2010. But because of previous drought-related extensions affecting some of these localities, the replacement periods for some drought sales before 2010 are also affected. Additional extensions will be granted if severe drought conditions persist.

Details on this relief, including a list of NDMC-designated counties, are available in Notice 2014-60, posted today on IRS.gov. Details on reporting drought sales and other farm-related tax issues can be found inPublication 225, Farmer’s Tax Guide, also available on the IRS web site.

Tax-filing and Payment Extensions Expire Oct. 15; Check Eligibility for Overlooked Tax Benefits; Choose E-file; E-pay with New Direct Pay

Tax-filing and Payment Extensions Expire Oct. 15; Check Eligibility for Overlooked Tax Benefits; Choose E-file; E-pay with New Direct Pay 

IRS YouTube Videos:

• Oct. 15 Tax Deadline:  English | Spanish
• Online Payment Agreement:  English | Spanish |ASL

WASHINGTON — The Internal Revenue Service today urged taxpayers whose tax-filing extension runs out on Oct. 15 to double check their returns for often-overlooked tax benefits and then file their returns electronically using IRS e-file or the Free File system.

More than a quarter of the nearly 13 million taxpayers who requested an automatic six-month extension this year have yet to file. Although Oct. 15 is the last day for most people, some still have more time, including members of the military and others serving in Afghanistan or other combat zone localities who typically have until at least 180 days after they leave the combat zone to both file returns and pay any taxes due.

“If you still need to file, don’t forget that you can still use IRS e-file through October 15,” said IRS Commissioner John Koskinen. “Many people may not realize they can still file their tax return for free through the IRS Free File program available on IRS.gov. Even if you’re filing in the final days, e-file remains easy, safe and the most accurate way to file your taxes.”

Check Out Tax Benefits

Before filing, the IRS encourages taxpayers to take a moment to see if they qualify for these and other often-overlooked credits and deductions:

• Benefits for low-and moderate-income workers and families, especially the Earned Income Tax Credit. The special EITC Assistant can help taxpayers see if they’re eligible.
• Savers credit, claimed on Form 8880, for low-and moderate-income workers who contributed to a retirement plan, such as an IRA or 401(k).
• American Opportunity Tax Credit, claimed onForm 8863, and other education tax benefits for parents and college students.
• Same-sex couples, legally married in jurisdictions that recognize their marriages, are now treated as married, regardless of where they live. This means that they generally must file their returns using either the married filing jointly or married filing separately filing status. Further details are on IRS.gov.

E-file Now: It’s Fast, Easy and Often Free

The IRS urged taxpayers to choose the speed and convenience of electronic filing. IRS e-file is fast, accurate and secure, making it an ideal option for those rushing to meet the Oct. 15 deadline. The tax agency verifies receipt of an e-filed return, and people who file electronically make fewer mistakes too. Of the more than 143 million returns received by the IRS so far this year, 85 percent or nearly 122 million have been e-filed.

Taxpayers who purchase their own software can also choose e-file, and most paid tax preparers are now required to file their clients’ returns electronically.

Everyone can use Free File, either the brand-name software, offered by the tax agency’s commercial partners to individuals and families with incomes of $58,000 or less, or online fillable forms, the electronic version of IRS paper forms available to taxpayers at all income levels.

Anyone expecting a refund can get it sooner by choosing direct deposit. Taxpayers can choose to have their refunds deposited into as many as three accounts. See Form 8888 for details.

Quick and Easy Payment Options

The new IRS Direct Pay system now offers taxpayers the fastest and easiest way to pay what they owe. Available through the Pay Your Tax Bill  icon on IRS.gov, this free online system allows individuals to securely pay their tax bills or make quarterly estimated tax payments directly from checking or savings accounts without any fees or pre-registration. More than 1.1 million tax payments totaling over $2.6 billion have been received from individual taxpayers since Direct Pay debuted earlier this year.

Other e-pay options include the Electronic Federal Tax Payment System (EFTPS) electronic funds withdrawaland credit or debit cards. Those who choose to pay by check or money order should make the payment out to the “United States Treasury.”

Taxpayers with extensions should file their returns by Oct. 15, even if they can’t pay the full amount due. Doing so will avoid the late-filing penalty, normally five percent per month, that would otherwise apply to any unpaid balance after Oct. 15. However, interest, currently at the rate of 3 percent per year compounded daily, and late-payment penalties, normally 0.5 percent per month, will continue to accrue.

Fresh Start for Struggling Taxpayers

In many cases, those struggling to pay taxes qualify for one of several relief programs. Most people can set up a payment agreement with the IRS on line in a matter of minutes. Those who owe $50,000 or less in combined tax, penalties and interest can use the Online Payment Agreement to set up a monthly payment agreement for up to 72 months or request a short-term extension to pay. Taxpayers can choose this option even if they have not yet received a bill or notice from the IRS.

Taxpayers can also request a payment agreement by filing Form 9465. This form can be downloaded from IRS.gov and mailed along with a tax return, bill or notice.

Alternatively, some struggling taxpayers qualify for anoffer-in-compromise. This is an agreement between a taxpayer and the IRS that settles the taxpayer’s tax liabilities for less than the full amount owed. Generally, an offer will not be accepted if the IRS believes the liability can be paid in full as a lump sum or through a payment agreement. The IRS looks at the taxpayer’s income and assets to make a determination regarding the taxpayer’s ability to pay. To help determine eligibility, use the Offer in Compromise Pre-Qualifier, a free online tool available on IRS.gov.

Details on all filing and payment options are on IRS.gov.

New YouTube Videos Provide Tips on Health Care, Tax Returns

New YouTube Videos Provide Tips on Health Care, Tax Returns

IRS YouTube Video:
IRS Commissioner: Individual Shared Responsibility Provision: English
IRS Commissioner: Premium Tax Credit-Changes in Circumstances: English
WASHINGTON ― The Internal Revenue Service announced the availability of several new YouTube videos to help taxpayers get important information about the Affordable Care Act and tax return filing.
The new videos, which are part of a series on the IRS YouTube channel, feature IRS Commissioner John Koskinen discussing the premium tax credit and the individual shared responsibility provision. These provisions of the Affordable Care Act will affect people's tax returns next year when they file their 2014 returns.
In the video about the premium tax credit, the Commissioner talks about how it can help make purchasing health care through the Health Insurance Marketplace more affordable for people with moderate incomes.
“You can get advance payments of the premium tax credit paid directly to the insurance company to lower your monthly premium, or you can apply for the premium tax credit when you file your tax return for 2014,” Koskinen said.
In the video about the individual shared responsibility provision, Koskinen discusses important facts about coverage requirements, coverage exemptions and the individual shared responsibility payment. He covers who must make a payment, who is eligible for exemptions, and what people need to do when filing their tax return.

"For most people, filing their returns in the spring of 2015 is going to be fairly simple – with regard to this issue, and that is they'll simply check a box indicating that they have qualifying insurance or they'll indicate that they're eligible for an exemption. Otherwise, they'll calculate their shared responsibility payment and add it to their tax return," Koskinen explained in one segment of the video.
IRS videos explaining the premium tax credit, the individual shared responsibility provision, and the small business health care tax credit are on the IRS Health Care video playlist. Additional videos about the Affordable Care Act will be available soon.
Health care videos are among those available on the IRS YouTube channel. Taxpayers have viewed IRS videos nearly 8 million times.
More information on the tax provisions of the Affordable Care Act is available at IRS.gov/aca, where you can also find Health Care Tax Tips. You can also subscribe to IRS Tax Tips to get these easy-to-read tips by e-mail from the IRS.

Interest Rates Remain the Same for the Fourth Quarter of 2014

Interest Rates Remain the Same for the Fourth Quarter of 2014

WASHINGTON — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Oct. 1, 2014.  The rates will be:

• three (3) percent for overpayments (two (2) percent in the case of a corporation);
• three (3) percent for underpayments;
• five (5) percent for large corporate underpayments; and
• one-half (0.5) percent for the portion of a corporate overpayment exceeding $10,000.

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis.  For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.
Generally, in the case of a corporation, the underpayment rate is the federal short-term rate plus 3 percentage points and the overpayment rate is the federal short-term rate plus 2 percentage points. The rate for large corporate underpayments is the federal short-term rate plus 5 percentage points. The rate on the portion of a corporate overpayment of tax exceeding $10,000 for a taxable period is the federal short-term rate plus one-half (0.5) of a percentage point.
The interest rates announced today are computed from the federal short-term rate determined during July 2014 to take effect Aug. 1, 2014, based on daily compounding.
Revenue Ruling 2014-23 announcing the rates of interest, is attached and will appear in Internal Revenue Bulletin 2014-40, dated Sep. 29, 2014.

Scam Phone Calls Continue; IRS Identifies Five Easy Ways to Spot Suspicious Calls

Scam Phone Calls Continue; IRS Identifies Five Easy Ways to Spot   Suspicious Calls

WASHINGTON — The Internal Revenue Service issued a consumer alert today providing taxpayers with additional tips to protect themselves from telephone scam artists calling and pretending to be with the IRS.
These callers may demand money or may say you have a refund due and try to trick you into sharing private information. These con artists can sound convincing when they call. They may know a lot about you, and they usually alter the caller ID to make it look like the IRS is calling. They use fake names and bogus IRS identification badge numbers. If you don’t answer, they often leave an “urgent” callback request.
“These telephone scams are being seen in every part of the country, and we urge people not to be deceived by these threatening phone calls,” IRS Commissioner John Koskinen said. “We have formal processes in place for people with tax issues. The IRS respects taxpayer rights, and these angry, shake-down calls are not how we do business.”
The IRS reminds people that they can know pretty easily when a supposed IRS caller is a fake. Here are five things the scammers often do but the IRS will not do. Any one of these five things is a tell-tale sign of a scam. The IRS will never:
1. Call you about taxes you owe without first mailing you an official notice.
2. Demand that you pay taxes without giving you the opportunity to question or appeal the amount they say you owe.
3. Require you to use a specific payment method for your taxes, such as a prepaid debit card.
4. Ask for credit or debit card numbers over the phone.
5. Threaten to bring in local police or other law-enforcement groups to have you arrested for not paying.
If you get a phone call from someone claiming to be from the IRS and asking for money, here’s what you should do:

• If you know you owe taxes or think you might owe, call the IRS at 1.800.829.1040. The IRS workers can help you with a payment issue.
• If you know you don’t owe taxes or have no reason to believe that you do, report the incident to the Treasury Inspector General for Tax Administration (TIGTA) at 1.800.366.4484 or at www.tigta.gov.
• If you’ve been targeted by this scam, also contact the Federal Trade Commission and use their “FTC Complaint Assistant” at FTC.gov. Please add "IRS Telephone Scam" to the comments of your complaint.

Remember, too, the IRS does not use email, text messages or any social media to discuss your personal tax issue. For more information on reporting tax scams, go to www.irs.gov and type “scam” in the search box.
Additional information about tax scams are available on IRS social media sites, including YouTube http://youtu.be/UHlxTX4rTRU?list=PL2A3E7A9BD8A8D41D. and Tumblr http://internalrevenueservice.tumblr.com where people can search “scam” to find all the scam-related posts.

Back-to-School Tax Credits

Back-to-School Tax Credits

Are you, your spouse or a dependent heading off to college? If so, here’s a quick tip from the IRS: some of the costs you pay for higher education can save you money at tax time. Here are several important facts you should know about education tax credits:  

• American Opportunity Tax Credit.  The AOTC can be up to $2,500 annually for an eligible student. This credit applies for the first four years of higher education. Forty percent of the AOTC is refundable. That means that you may be able to get up to $1,000 of the credit as a refund, even if you don’t owe any taxes.
• Lifetime Learning Credit.  With the LLC, you may be able to claim a tax credit of up to $2,000 on your federal tax return. There is no limit on the number of years you can claim this credit for an eligible student.
• One credit per student.  You can claim only one type of education credit per student on your federal tax return each year. If more than one student qualifies for a credit in the same year, you can claim a different credit for each student.  For example, you can claim the AOTC for one student and claim the LLC for the other student.
• Qualified expenses.  You may include qualified expenses to figure your credit.  This may include amounts you pay for tuition, fees and other related expenses for an eligible student. Refer to IRS.gov for more about the additional rules that apply to each credit.
• Eligible educational institutions.  Eligible schools are those that offer education beyond high school. This includes most colleges and universities. Vocational schools or other postsecondary schools may also qualify.
• Form 1098-T.  In most cases, you should receive Form 1098-T, Tuition Statement, from your school. This form reports your qualified expenses to the IRS and to you. You may notice that the amount shown on the form is different than the amount you actually paid. That’s because some of your related costs may not appear on Form 1098-T. For example, the cost of your textbooks may not appear on the form, but you still may be able to claim your textbook costs as part of the credit. Remember, you can only claim an education credit for the qualified expenses that you paid in that same tax year.
• Nonresident alien.  If you are in the U.S. on an F-1 student visa, you usually file your federal tax return as a nonresident alien. You can’t claim an education credit if you were a nonresident alien for any part of the tax year unless you elect to be treated as a resident alien for federal tax purposes. To learn more about these rules see Publication 519, U.S. Tax Guide for Aliens.
• Income limits. These credits are subject to income limitations and may be reduced or eliminated, based on your income.

For more information, visit the Tax Benefits for Education Information Center on IRS.gov. Also, check Publication 970, Tax Benefits for Education. You can get it on IRS.gov or by calling 800-TAX-FORM (800-829-3676).

Additional IRS Resources:

• Education Credits – AOTC and LLC
• Education Credits: Questions and Answers
• Education Credits Frequently Asked Questions and Answers
• Form 1098-T, Tuition Statement (see instructions for student)
• Form 8863, Education Credits (American Opportunity and Lifetime Learning Credits)
• Form 1040A, U.S. Individual Income Tax Return
• Form 1040, U.S. Individual Income Tax Return

IRS YouTube Videos:

• Education Tax Credits – English | Spanish | ASL

IRS Podcasts:
Education Tax Credits – English | Spanish

2012 Individual Income Tax Returns Complete Report (Publication 1304) Now Available

2012 Individual Income Tax Returns Complete Report (Publication 1304) Now Available

WASHINGTON — The Internal Revenue Service today announced the availability of Statistics of Income—2012, Individual Income Tax Returns Complete Report (Publication 1304). U.S. taxpayers filed 144.9 million individual income tax returns for tax year 2012, down 0.3 percent from 2011. The adjusted gross income less deficit reported on these returns totaled $9.1 trillion, which is an 8.7-percent increase from the prior year.
The report is based on a sample drawn from the 144.9 million individual income tax returns filed for tax year 2012 and provides estimates on sources of income, adjusted gross income, exemptions, deductions, taxable income, income tax, modified income tax, tax credits, self-employment tax, and tax payments.
Classifications include tax status, size of adjusted gross income, marital status, age, and type of tax computation. A brief text reviews the requirements for filing tax returns, explains the changes in tax law, and describes the sample used to produce the report. Publication 1304 is currently available for download at irs.gov/taxstats.
For more information about these data, please write to the Director, Statistics of Income Division, RAS:S, Internal Revenue Service, 1111 Constitution Avenue, K-Room 4122, Washington, DC 20224.

Seven Good Reasons Why You Should Become a Tax Volunteer

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Seven Good Reasons Why You Should Become a Tax Volunteer

If you’re looking for a way to help others in your community, then think about becoming a tax volunteer. The IRS is looking for people who will provide free tax help next year.

The Volunteer Income Tax Assistance and Tax Counseling for the Elderly programs offer free tax help across the country. Each year VITA and TCE volunteers prepare tax returns for free for people with low-to-moderate incomes. 

Here are seven good reasons why you should become a VITA or TCE volunteer.
1.    You don’t need prior experience. You’ll receive specialized training and can serve in a variety of roles. You can even help those who do not speak English if you are fluent in another language.

2.    The IRS provides free tax law training and materials. You’ll learn how to prepare basic tax returns and learn about tax deductions and credits that benefit eligible taxpayers. These include credits such as the Earned Income Tax Credit, Child Tax Credit and Credit for the Elderly.

3.    The volunteer hours are flexible. Volunteers generally serve an average of three to five hours per week. The programs are usually open from mid-January through the tax filing deadline in April. A few sites are open all year.

4.    VITA and TCE sites are located in communities throughout the nation. Sites are often set up in neighborhood centers, libraries, schools, shopping malls and other similar places. The programs offer free tax preparation and free electronic filing for both federal and state tax returns.

5.    You can also help those who serve our country, because the IRS also needs volunteers to provide tax help to military personnel and their families.

6.    As a volunteer, you’ll join a program that’s helped millions of people file tax returns at no charge for more than 40 years. Your help will make a difference. It’s people helping people. It's that simple.

7.    Tax Professionals (Enrolled Agents and Other Tax Return Preparers) can earn Continuing Education Credits when volunteering as a VITA/TCE instructor, quality reviewer or tax return preparer. See the IRS fact sheet for more information on Continuing Education Credits.

To find out more, visit IRS.gov and type "tax volunteer" in the search box. If you are interested you will need to submit Form 14310, VITA/TCE Volunteer Sign Up, by email through the IRS website.


Additional IRS Resources:

• IRS Tax Volunteers
• IRS Free Tax Return Preparation Programs
• Link & Learn Taxes

Electronic Management System (EMS) Downtime for BATS in Memphis

Electronic Management System (EMS) Downtime for BATS in Memphis

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The Electronic Management System, located at Memphis, Tennessee will be unavailable for Business Acceptance Testing (BATS) beginning Friday, August 8, at 6:00 a.m. Eastern Time until August 11, 2014 at 12:00 p.m. Eastern Time for maintenance. We apologize for any inconvenience this may cause you.

Free Webcast about The Affordable Care

What: Free Webcast about The Affordable Care Act: How Applicable Large Employers Should Report Health Care Coverage under IRC Section 6056

When: August 14, 2014, Noon (Eastern)  

Learn about 

• Internal Revenue Code Section 6056 
• Who is required to report
• What elements are required to be reported
• When Applicable Large Employers must report
• How do government entities designate reporting

Register for this event. You will use the same link to attend the event.

Please feel free to forward this message to anyone who you believe would be interested and value this educational opportunity.

If you have any questions about this presentation, please send us an e-mail.

Vacation Home Rentals

Vacation Home Rentals

If you rent a home to others, you usually must report the rental income on your tax return. But you may not have to report the income if the rental period is short and you also use the property as your home. In most cases, you can deduct the costs of renting your property. However, your deduction may be limited if you also use the property as your home. Here is some basic tax information that you should know if you rent out a vacation home:

• Vacation Home.  A vacation home can be a house, apartment, condominium, mobile home, boat or similar property.
• Schedule E.  You usually report rental income and rental expenses on Schedule E, Supplemental Income and Loss. Your rental income may also be subject to Net Investment Income Tax.
• Used as a Home.  If the property is “used as a home,” your rental expense deduction is limited. This means your deduction for rental expenses can’t be more than the rent you received. For more about these rules, see Publication 527, Residential Rental Property (Including Rental of Vacation Homes).
• Divide Expenses.  If you personally use your property and also rent it to others, special rules apply. You must divide your expenses between the rental use and the personal use. To figure how to divide your costs, you must compare the number of days for each type of use with the total days of use.
• Personal Use.  Personal use may include use by your family. It may also include use by any other property owners or their family. Use by anyone who pays less than a fair rental price is also personal use.
• Schedule A.  Report deductible expenses for personal use on Schedule A, Itemized Deductions. These may include costs such as mortgage interest, property taxes and casualty losses.
• Rented Less than 15 Days.  If the property is “used as a home” and you rent it out fewer than 15 days per year, you do not have to report the rental income.
• Use IRS Free File.  If you still need to file your 2013 tax return, you can use IRS Free File to make filing easier. Free File is available until Oct. 15. If you make $58,000 or less, you can use brand-name tax software. If you earn more, you can use Free File Fillable Forms, an electronic version of IRS paper forms. Free File is available only through the IRS.gov website.

Publication 527 is available on IRS.gov. You can also call 800-TAX-FORM (800-829-3676) to get it by mail.

Additional IRS Resources:

• Tax Topic 415 - Renting Residential and Vacation Property
• Rental Income and Expenses - Real Estate Tax Tips

IRS YouTube Videos:

• Renting Your Vacation Home – English | Spanish | ASL

IRS Podcasts:

• Renting Your Vacation Home – English | Spanish

Reminder: Free Webcast from the office of Federal, State and Local Governments

Reminder: Free Webcast from the office of Federal, State and Local Governments

Topic: The Affordable Care Act’s Employer Shared Responsibility Provisions – What Government Employers Need to Know

Date: July 24, 2014

Time: 12 p.m. Eastern Time

Learn about the following topics pertaining to the Affordable Care Act:

• Defining an Applicable Large Employer

• Determining whether or not the entity is an Applicable Large Employer

• When and how the employer shared responsibility applies

• Forms of transition relief

To register: Click here. You will use the same link to attend the event.

Please feel free to forward this message to anyone who you believe would be interested and value this educational opportunity.

IRS.gov has information about the health care law and its effect on your taxes

IRS.gov has information about the health care law and its effect on your taxes

There is a lot of information in the news and online about the health care law and its effect on your taxes. For the most current answers to questions you may have, visit IRS.gov/aca. http://www.irs.gov/uac/Affordable-Care-Act-Tax-Provisions-Home

From the individual shared responsibility provision to the definition of minimum essential coverage, the IRS website covers a wide range of health care topics and how they relate to your taxes.

The IRS knows that many taxpayers want to know how the health care law will affect them when filing their taxes next year. When questions come up, IRS.gov is a great place for taxpayers to begin finding the answers they need – when they need them.

This information is especially important for individuals because several provisions of the law went into effect this year, such as the premium tax credit and the requirement for individuals to have minimum essential coverage. The IRS will continue to post information that is relevant and helpful to you as you get ready to prepare and file your 2014 tax return.

At IRS.gov/aca, you’ll find frequently asked questions, legal guidance, and links to other useful sites. You can also access valuable information about specific topics, including the premium tax credit for individuals, rules and responsibilities for employers, as well as tax provisions for insurers, tax-exempt organizations and other businesses.

Aside from IRS.gov, we also post new guidance and information about the health care law on the official IRS Twitter,  Tumblr   and Facebook  accounts. You can also access a Web-based IRS flyer, Health Care Law Online Resources,  for links to other federal agencies that also have a role in the health care law.

More Information

Find out more about the tax-related provisions of the health care law at IRS.gov/aca.  

Find out more about the health care law at HealthCare.gov  

Subscribe to IRS Tax Tips to get easy-to-read tips via e-mail from the IRS.

Summer Weddings Mean Tax Changes

Summer Weddings Mean Tax Changes

Taxes may not be high on your summer wedding plan checklist. But you should be aware of the tax issues that come along with marriage. Here are some basic tips that can help keep those issues to a minimum:
Name change. The names and Social Security numbers on your tax return must match your Social Security Administration records. If you change your name, report it to the SSA. To do that, file Form SS-5, Application for a Social Security Card. You can get the form on SSA.gov, by calling 800-772-1213 or from your local SSA office.
Change tax withholding.  A change in your marital status means you must give your employer a new Form W-4, Employee's Withholding Allowance Certificate. If you and your spouse both work, your combined incomes may move you into a higher tax bracket. Use the IRS Withholding Calculator tool at IRS.gov to help you complete a new Form W-4. See Publication 505, Tax Withholding and Estimated Tax, for more information.
Changes in circumstances.  If you receive advance payment of the premium tax credit in 2014, it is important that you report changes in circumstances, such as changes in your income or family size, to your Health Insurance Marketplace. You should also notify the Marketplace when you move out of the area covered by your current Marketplace plan. Advance payments of the premium tax credit provide financial assistance to help you pay for the insurance you buy through the Health Insurance Marketplace. Reporting changes will help you get the proper type and amount of financial assistance so you can avoid getting too much or too little in advance.
Address change.  Let the IRS know if your address changes. To do that, file Form 8822, Change of Address, with the IRS. You should also notify the U.S. Postal Service. You can ask them online at USPS.com to forward your mail. You may also report the change at your local post office.
Change in filing status.  If you’re married as of Dec. 31, that’s your marital status for the whole year for tax purposes. You and your spouse can choose to file your federal income tax return either jointly or separately each year. You may want to figure the tax both ways to find out which status results in the lowest tax.
Note for same-sex married couples: If you are legally married in a state or country that recognizes same-sex marriage, you generally must file as married on your federal tax return. This is true even if you and your spouse later live in a state or country that does not recognize same-sex marriage. See irs.gov for more information on this topic.
For more information, visit IRS.gov. You can also get IRS forms and publications on IRS.gov or by calling 800-TAX-FORM (800-829-3676).
IRS YouTube Videos:

• Getting Married? – English
• Premium Tax Credit – English | Spanish | ASL
• Changed Your Name After Marriage or Divorce? – English | Spanish | ASL
• IRS Withholding Calculator – English | Spanish | ASL
• Tax Information About Same-Sex Marriage – English | ASL

IRS Podcasts:

• Premium Tax Credit – English | Spanish
• Changed Your Name after Marriage or Divorce? – English | Spanish
• IRS Withholding Calculator – English | Spanish
• Tax Information About Same-Sex Marriage – English | Spanish