May 4, 2012 /24-7PressRelease / -there are several means available to reduce the amount of taxes, the individual must including filing status, deductions, credits and dependants. Status of filing resulting of the lowest amount of due taxes is "married filing jointly." According to a recent CNN report, filing status can save about $6,000 per year. Taxpayers must be married to take advantage of the State of filing "married filing jointly". However, this option is not available to same-sex couples.
Because federal and state laws prevent same sex couples to marry or to recognize legal marriages performed elsewhere, same sex couples cannot receive the same tax benefits have the double-sex married couples. Although many States grant partial or full marriage rights to same-sex couples, the Federal Government is prohibited from granting rights to couples of the same sex, under the Defense of Marriage Act passed in 1996.
This may create a different tax treatment for the State and federal income taxes. States that allow rights of marriage to same-sex couples allow couples file jointly at the level of the State, but they must file separately as unique taxpayer for Federal statements.
A spouse may claim the status of "head of household". This filing status exposes more income to a higher tax bracket, which means that the couple is paying more than under the status "married filing jointly", especially if the other spouse is not earning. Also, many credit progressively earlier for those individual status, by opposition to complete jointly.
In addition to paying higher taxes, same-sex couples may also need to pay higher fees for preparing taxes professional assistance in the preparation of multiple and sometimes complicated, of tax returns. A couple who has rights at the State level, but not at the federal level must complete additional statements to achieve correct performance based on the laws of the State and the Federal Government.
It is not a good idea for a same sex couple choose File "married filing jointly" on their back federal income tax. This action may result in additional taxes, penalties and interest, including those related to the filing of a misrepresentation knowingly.
Article provided by Law Office of Williams & Associates, P.C.
Visit us at the http://www.williamslawassociates.com/
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