Saturday, June 25, 2011

The Tax Side of Same Sex Marriage

New York State has adopted new laws (pending the Governors signature) that legalizes same sex unions in New York State.

What will be the impact of this event on income tax filing for same sex couples? Will they be considered to be married for tax filing purposes and receive the same tax benefits that other married couples receive?

While New York State may consider same sex unions as a marriage, the federal government has not passed similar rules. Thus these couples are not considered to be married when filing with the IRS.

Tax simplification????