Thursday, August 29, 2013

IRS Announcement For Married Same-Sex Couples

From Forbes Magazine: 


The IRS has taken lots of hits lately, but this is welcome news for same-sex couples, those considering marriage, and the tax preparation community that has long been scratching its collective head. Now it’s official. The IRS says anyone who is legally married is married for federal tax purposes. See Treasury Department Press Release.

It doesn’t matter whether you live in a jurisdiction that recognizes your marriage. Treasury Secretary Jacob J. Lew said, “This ruling also assures legally married same-sex couples that they can move freely throughout the country knowing that their federal filing status will not change.” See Treasury and IRS Recognize Same-Sex Marriages for Tax Purposes.

The IRS will apply this sea change September 16th, though you can actually amend for prior years as noted below. To see the text of Revenue Ruling 2013-17, click here. For Frequently Asked Questions, click here.
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While all marriages are covered, the ruling doesn’t cover registered domestic partnerships, civil unions, or similar formal relationships recognized under state law. For registered domestic partners who live in community property states, click here.

For more details, you can find the full article HERE.

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