The Internal Revenue Service (IRS) released a new YouTube video designed to provide useful tax tips to married same-sex couples. While it may look like it’s something the 80s left behind and doesn’t want back, could this new tool actually be useful?
According to the news release we received from the White House Office of Communications, the video is the latest addition to an online library featuring short IRS instructional videos covering more than 100 topics ranging from tips for victims of identity theft to taking advantage of the new simplified home office deduction. These videos have been viewed more than seven million times.
Following last summer’s Supreme Court decision invalidating a key provision of the Defense of Marriage Act (DOMA), the IRS ruled that same-sex couples, legally married in jurisdictions that recognize their marriages, are now treated as married for federal tax purposes. The ruling applies 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.
Take a look at the video and let us know: is it helpful to your family and situation?
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Photo Credit: Money Blog Newz