Wednesday, February 15, 2017

Tax Implications for Couples in Same Sex Marriages

Today, same-sex couples can enjoy federal benefits that they were previously denied. Keep in mind, however, that these benefits are only extended to married couples, not couples in civil unions or domestic relationships.

However, formally married same-sex couples can now enjoy all of the marriage filing statuses of other couples, including:

l  Married filing jointly
l  Head of household
l  Married filing separately

If you have recently entered into a same-sex marriage, understand that, at the present time, you are entitled to all of the benefits and rights of anyone in a different-sex union.

Some good advice to follow would be to notify the following of your new chosen status:

l  The Social Security Administration
l  Employers

l  The IRS
l  The United States Postal Service

You should also file a new W-4 form as a result of your status change.


You may also find it helpful to find an experienced tax professional who can help you to fully understand your new status and to make the best possible decisions to benefit you and your spouse in your new union.

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