IRS Announces Same Sex Marriage Regulations
The Treasury Department announced this afternoon that regulations will be issued shortly recognizing same sex marriages for federal tax purposes. Although this is a big step for same sex couples, these federal laws will not apply to registered domestic partnerships or civil unions.
Under this new policy, all federal tax provisions dealing with marriage will apply to same sex married couples regardless of what state they live in. These federal tax provisions include, but are not limited to, filing status, IRA contributions, earned income rules, and income, gift and estate taxes.