tag:blogger.com,1999:blog-2135788133426971614.post4738086442837673054..comments2024-03-28T01:09:48.303-07:00Comments on 21st Century Taxation: DOMA fate and federal tax lawsProfessor Nellenhttp://www.blogger.com/profile/03288632402197167948noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-2135788133426971614.post-48452614443451057132013-04-13T19:44:59.390-07:002013-04-13T19:44:59.390-07:00Another resource on how DOMA will impact the defin...Another resource on how DOMA will impact the definition of a married couple and the complication and unfairness surrounding taxable health benefits for same-sex couples previously mentioned is an article from Jada Gaves which can be found through the following link http://money.usnews.com/money/careers/articles/2013/04/11/the-fate-of-doma-and-whats-at-stake-with-employee-benefits. <br />Anonymoushttps://www.blogger.com/profile/11734962536101687871noreply@blogger.comtag:blogger.com,1999:blog-2135788133426971614.post-61741167084059303152013-04-13T19:16:10.055-07:002013-04-13T19:16:10.055-07:00The tax issues surrounding the DOMA overturn prese...The tax issues surrounding the DOMA overturn present a great opportunity to analyze the matter against some of the AICPA’s principles of good tax policy. If DOMA was deemed unconstitutional and gay marriages are recognized by the federal government to be able to file as married on their tax returns and receive the same rights and benefits as heterosexual couples, the decision would meet the equitable and fairness principle. Gay couples will be taxed the same as heterosexual couples. Although it is expected that gay couples will pay more in taxes as the marriage penalty will now apply, they will be treated the same as non-gay couples and fulfill the principle that similar situated taxpayers should be taxed similarly. <br />Our tax system should not enact tax laws that hinder gay couples from receiving the same tax treatment as heterosexual couples due to their sexual orientation. Without the recognition of their union for tax purposes, gay couples are forced to pay for taxes on healthcare benefits and additional tax planning in order to avoid paying higher estate taxes. The current law creates complication and sways tax decisions regarding these issues which do not meet the simplicity and neutrality principles of good tax policy. Inconsistent terms for how a married couple should be defined also create complication.<br />Based on Kim Dixon and Patrick Temple-West’s article Analysis: Gay Marriage Rights May Carry Bigger U.S. Tax Burden For Some, allowing gay couples to be taxed the same as heterosexual couples would generate more in tax revenue due to the marriage penalty. Getting rid of the different tax treatment will allow for resources to be allocated to more efficient endeavors and help stimulate the economy. The Government will also be able to collect and estimate additional tax revenue from recognizing gay marriages. It could very well be a win-win situation for all.<br />Anonymoushttps://www.blogger.com/profile/11734962536101687871noreply@blogger.com