(855) Marcum1 | FOLLOW US           
Marcum LLP
  • EVENTS
  • OFFICES
  • CAREERS
  • SUBSCRIBE  
  • 中文
Marcum LLP
News

As Seen In

 

In This Edition

Business Insider

Janis Cowhey, Tax & Business Services Partner, Featured in Business Insider Article, "Married Same-Sex Couples Get New Tax Breaks."

Featured: Janis L. Cowhey, Partner, Tax & Business

Share:

Excerpt:

For the first time ever, married same-sex couples will be required to file federal income taxes as married, either jointly or separately, and will have the opportunity to amend their last three returns using a married filing status. For some unions, this could mean a nice refund.

After the Supreme Court struck down the 1996 Defense of Marriage Act last June, the IRS announced that it would recognize all legally married same-sex couples for federal tax purposes, regardless of whether the state they reside in recognizes their marriage.

It's a big victory for advocates of same-sex marriage, writes Tara Siegel Bernard at the New York Times, but it also raises new questions, like: When does it make sense to amend your returns?

Bernard spoke with Janis Cowhey McDonagh, a partner at New York accounting firm Marcum. McDonagh says that, as with straight couples, amending returns makes sense if you and your partner qualify for a marriage bonus, earned when one partner stays home or makes significantly less than the other.

On the other hand, "higher-income couples with two working spouses making similar incomes are likely to face a marriage penalty" if the dual incomes push the couple into a higher tax bracket, she says.

Click here to read the full article on www.businessinsider.com >>

 
Featured
Janis L. Cowhey

Partner
Tax & Business
New York, NY
 
 
HAVE A QUESTION? ASK MARCUM
 
STAY IN TOUCH.

SIGN UP TODAY FOR MARCUM'S NEWSLETTERS.

ABOUT MARCUM LLP

Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, with offices in major business markets throughout the U.S., as well as Grand Cayman, China and Ireland.

Learn More

CONNECT WITH US
               
OFFICES

Headquarters
750 3rd Avenue, 11th Floor
New York, NY 10017

Find an Office

(855) MARCUM1
info@marcumllp.com

FOUNDATION

Marcum Foundation

AFFILIATIONS

Leading Edge Alliance

DOWNLOAD THE MARCUM ON THE GO APP

© 2016 Marcum LLP. All Rights Reserved.
Privacy | Legal | Sitemap