July 05, 2013
Nanette Lee Miller, Leader of the LGBT Practice Group, Quoted In South Florida Business Journal Article "Federal Tax Benefits Cleared By High Court DOMA Ruling, Experts Say"
By Paul Brinkmann
Gay and lesbian married couples are expected to seek new federal tax benefits following the U.S. Supreme Court’s June 26 ruling that the Defense of Marriage Act was unconstitutional.
South Florida attorneys and accountants said they expect a flurry of new business as clients seek to change their tax status.
At this point, the impact would only be for those who married in the 13 states where their unions are recognized, said Nanette Lee Miller, national leader of accounting firm Marcum LLP’s lesbian, gay, transgender and bisexual practice group.
A news release from Marcum said same-sex couples who were legally married... "can now take advantage of more than 1,100 federal benefits that heterosexual married couples have been entitled to."
The benefits include:
- Joint federal tax returns.
- Unlimited federal and state tax marital deductions.
- Stretch rollovers for retirement plan distributions.
- Social Security benefits.
- Unified tax credit portability.
- Access to immigration laws pertaining to residency for a spouse.