Same Sex Couples and Amended Tax Returns

Stephen Ganns, discusses the tax benefits that same sex couples can use.Earlier in 2013, as many of us are aware, the Supreme Court overturned DOMA (the Defense of Marriage Act).  In so doing, it enabled same sex couples to now file as married individuals, just as heterosexual couples have done for years.

Same sex married couples can go back to the year they were legally married and file an amended federal tax return. Whether or not this is a good idea will depend on the couple’s situation.

In general, two single people making a similar amount of money will owe less tax as single individuals than they would as a married couple. However, in a situation where one spouse makes significantly more than the other spouse, it may be worth a look back to prior years when the spouses filed their federal returns as individuals and see if filing jointly as a married couple would be better.

Before you do anything, please consult your tax advisor. Feel free to contact me through the various social media outlets and I will be glad to answer questions and help you out with this.

Stephen J. GannsStephen J. Ganns, CPA

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