~ Same Sex Marriage and your Finances ~

Marriage Equality Act:

Lots of new developments since this article was written! So call Mary-Elizabeth for the current info.

June 26, 2013 saw The Defense of Marriage Act (DOMA), declared unconstitutional by the Supreme Court. The federal government had been sued by Edie Windsor after the Internal Revenue Service denied her refund request for the federal estate taxes she paid after her spouse, Thea Spyer, died in 2009. President Barack Obama released a statement celebrating the decision. “This was discrimination enshrined in law. The Supreme Court has righted that wrong, and our country is better off for it,” he said.

On 2/10/2014, the U.S. Government expanded recognition of same-sex marriages in federal legal matters, including bankruptcies, prison visits and survivor benefits for police officers and firefighters killed on the job and the legal right to testify to incriminate a spouse. The federal expansion includes all 34 states where same-sex marriage isn’t legal. The Human Rights Campaign called it a “landmark announcement”.

Legally married same-sex couples are now entitled, but not required, to file amended tax returns for the years still open (2010, 2011, 2012) if the amended returns will net a greater refund. As of September 2013 legally married same-sex couples must file their federal tax returns as either Married Filing Jointly or Married Filing Separately. They are no longer able to use the Single status.

I am an Enrolled Agent currently licensed by the IRS to prepare all tax returns, both personal and business plus all state tax returns. I am now enjoying my 30+ year in business. My partner and I married with the wonderful help of Pastor April on January 14, 2012. I have many married same sex clients and it has been my goal to have the latest tax information to benefit them.

For additional information please call,
Mary-Elizabeth W.Lehane EA CFP CDFA
Oakdale, New York 11769
Office: (631) 563-9207
Fax: (631) 563-9257
Cell: (631) 807-1469
Website: lehanetaxandfinancialplanning.com