Mintz Levin Publishes Analysis of IRS DOMA Guidance on Employee Benefit Plans

A recent article by Mintz Levin, "Treasury Department/IRS Clarify Federal Tax Treatment of Same-Sex Marriages: Assessing the Impact on Employee Benefit Plans" analyzes the impact of the Internal Revenue Service's recent DOMA guidance on employee benefit plans. The article explains that:

"In recently issued Revenue Ruling 2013-17, the Treasury Department and the Internal Revenue Service (IRS) ruled that all legal same-sex marriages will be recognized for federal tax purposes. The revenue ruling was accompanied by two sets of Frequently Asked Questions, which together with the revenue ruling establish a “state of celebration” rule as opposed to a “state of residence” rule. Thus, a same-sex marriage legally entered into in any state or jurisdiction will be recognized for all federal income, gift and estate tax purposes, even if the couple later moves to a state that does not recognize same-sex marriages. According to a concurrently issued IRS press release, the rule applies broadly — to all federal tax provisions where marriage is a factor, including filing status, claiming personal and dependency exemptions, taking the standard deduction, employee benefits, contributing to an IRA, and claiming the earned income tax credit or child tax credit."

To read the full article, click here.