Local

Same-sex married couples will receive equal tax benefits

Same-sex married couples will receive equal tax benefits

Story by U.S. Department of the Treasury

WASHINGTON, D.C. – The U.S. Department of the Treasury and the Internal Revenue Service (IRS) today ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, will be treated as married for federal tax purposes, according to a press release.

The ruling applies regardless of whether the couple lives in a jurisdiction that recognizes same-sex marriage or a jurisdiction that does not recognize same-sex marriage.

The ruling implements federal tax aspects of the June 26th Supreme Court decision invalidating a key provision of the 1996 Defense of Marriage Act.

“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,” said Secretary Jacob J. Lew. “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.”

Under the ruling, same sex couples will be treated as married for all federal tax purposes, including income and gift and estate taxes. The ruling applies to all federal tax provisions where marriage is a factor, including filing status, claiming personal and dependency exemptions, taking the standard deduction, employee benefits, contributing to an IRA, and claiming the earned income tax credit or child tax credit.

For more information, visit the Department of the Treasury web site.

Recent Headlines

Alexis

yesterday in Lifestyle

Miss Clarksville Teen USA seeks sponsors

Alexis Mihalinec will represent Clarksville in October.

oscar-2

yesterday in Lifestyle, News

Injured dog in need of funds for medical care

Oscar was found in a dumpster on August 17

Teachers-Warehouse

yesterday in Lifestyle

Organizations donate paper to Teacher Warehouse

Clarksville Firefighters Association Local 3180 & Servpro of Montgomery County donated paper worth $1,000.