The Treasury Department and the Internal Revenue Service announced today that all legally married same-sex couples will file joint returns for federal taxes. Married same-sex couples will file jointly, either as married filing jointly or married filing separately, regardless of state recognition.
Treasury Secretary Jacob J. Lew stated “Today’s ruling provides certainty and clear, coherent tax filing guidance for all legally married same-sex couples nationwide. It provides access to benefits, responsibilities and protections under federal tax law that all Americans deserve. 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.”
Same-sex couples will be treated as married for all federal tax purposes and provisions where marriage is a factor including income, estate, and gift taxes.
For more information, read the full statement from the Treasury Department:
All Legal Same-Sex Marriages Will Be Recognized for Federal Tax Purposes
This certainly makes your job as a financial planner a little easier knowing you can check the “married” check box, select “joint” filing status, and rest assured the federal tax calculations are every bit as accurate for your married same-sex couples as traditional couples.
