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Taxes

Webinar to Focus on LGBT Tax Planning Issues

During the past two years, there has been a lot of confusion and frustration relating to tax and financial planning for LGBT clients. While the Obergefell ruling simplified this planning in many ways, there is still a lot to understand and learn with ...

IRS Gay Marriage Tax Issues Increased After Supreme Court DOMA Decision 665x385 1  55b14d44cd8f5

On June 26, 2015, the Supreme Court of the United States ruled in Obergefell v. Hodges that all states must license marriages between two people of the same sex. This ruling came just two years after the historical ruling in United States v. Windsor, which struck down Section 3 of the Defense of Marriage Act.

During the past two years, there has been a lot of confusion and frustration relating to tax and financial planning for LGBT clients. While the Obergefell ruling simplified this planning in many ways, there is still a lot to understand and learn with regard to providing tax and financial planning services to the LGBT community.

That’s why the National Society of Accountants (NSA) developed a new webinar, “Post-Windsor & Obergefell Tax and Financial Planning Issues for LGBT Clients,” to update tax professionals on the latest tax laws in this area. It will be held July 28, 2015 from 2-4 p.m. Eastern Time.

The webinar will be taught by Rosalind Sutch, CPA, MT, of Drucker & Scaccetti, who specializes in LGBT tax issues.

IRS Revenue Ruling 2013-17 stated that the IRS will look to the laws of the state in which a couple was married to determine their federal marital status. Prior to these events no legally married same-gender couple could file jointly.

This webinar will review the history of Windsor and Obergefell Cases and the progress of marriage equality in the United States and discuss the issues LGBT couples (married and not married) are facing from a tax perspective, including:

  • The possible need for amended income tax returns
  • How to recover payroll taxes
  • State-level taxation issues for non-marriage equality states.

It will also address economic and tax issues that should be considered when helping clients quantify the financial impact of marriage.

The webinar is approved for continuing professional education (CPE) by the Internal Revenue Service (IRS), National Association of State Boards of Accountancy (NASBA), Accreditation Council for Accountancy and Taxation (ACAT) and California Tax Education Council (CTEC).

Registration and information is at webinars.nsacct.org.