New Report Offers Guidance on Tax Planning and Benefits for Same-Sex Marriages

A new special report from Thomson Reuters, Same-Sex Marriage Decisions by the Supreme Court Open Doors for Tax Planning and Benefits, clarifies many of the legal and tax questions faced by same-sex couples and the tax and estate planning professionals who advise them.

After the Windsor ruling, the IRS and the Department of Labor provided guidance for how same-sex marriage would be handled for income tax and employee benefits purposes. This special report summarizes that guidance and suggests ways that same-sex couples can benefit from these changes in the areas of federal and state income taxes; qualified retirement plans; social security and estate, trust, and gift taxes. It also suggests estate and financial planning opportunities available to same-sex couples in light of the recent Obergefell decision.

“The Windsor and Obergefell rulings have changed the legal and tax landscape for millions of Americans, dramatically simplifying their financial lives,” said Brooke Paschall, executive editor – tax with the Tax & Accounting business of Thomson Reuters. “In that same spirit, this report provides guidance to help clarify the tax implications of these landmark decisions for practitioners and ensure they provide the most timely advice to their clients.”