In case you missed the latest tax news, changes are ahead for same-sex marriages in the U.S. and abroad.
Starting September 16th, the IRS and Department of Treasury will treat same-sex legally married couples as married for federal tax purposes. Liberty Tax Service is offering to amend 2010 and 2011 federal tax returns for same-sex, married couples for free.
Those in same-sex marriages could possibly benefit from amending their federal tax return for the past three years. Under the ruling, all federal tax provisions that pertain to marriage are affected, including a couple’s filing status, employee benefits, claiming the earned income tax credit, certain deductions and the child tax credit. However, filing an amendment could cost couples more, so visiting a Liberty Tax® preparer is the best course of action.
The ruling stands even for those couples who do not currently reside in the jurisdiction in which they were married. During 2010 and 2011, several U.S. states, as well as foreign countries, recognized same-sex marriages. A complete list can be found on CNN.com.
Disclaimer: Every effort has been taken to provide the most accurate and honest analysis of the tax information provided in this blog. Please use your discretion before making any decisions based on the information provided. This blog is not intended to be a substitute for seeking professional tax advice based on your individual needs.