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Same-Sex Couples Might File Tax Refund Claims According to Watson CPA Group
Date:1/7/2013

Colorado Springs, Colorado (PRWEB) January 07, 2013

The 1996 Defense of Marriage Act law could be struck down or at least heavily altered by an upcoming United States Supreme Court decision. This could have major tax ramifications for tax returns starting in 2009 when states began allowing and recognizing same-sex marriages. Refunds for estate and income taxes that were previously unavailable would now be claimed by same-sex couples filing amended tax returns.

However, there is a timing issue especially for 2009 tax returns. Typically, a taxpayer has three years to file an amended tax return or file what is called a protective claim. The period of limitations starts on the due date of the tax return. So in the case of 2009 tax returns, the amended tax return or protective claim must be filed by April 15, 2013. But the Supreme Court is not expected to rule on DOMA until the summer of 2013, after the filing deadline.

There is a remedy available for same-sex couples. First, they should speak to a tax professional to determine if filing jointly makes financial sense. If the tax liability of the two single tax returns equals the tax liability of jointly filed tax return, then the hassles might outweigh the benefits. Of course, many same-sex couples might still want to amend their tax returns for intrinsic reasons. Generally the most benefit will be gained by same-sex couples with disparate incomes, or if there has been any inheritance tax paid for a deceased partner’s estate.

Next, an amended tax return must be prepared showing both taxpayers as married, filing jointly. The words “protective refund claim” must be written across the top of the amended tax return
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