As expected, in the wake of the Supreme Court’s decision in Windsor on June 26, the IRS has now passed regulations that allow same-sex couples to file joint tax returns, regardless of where they live and whether or not the state in which they live recognizes their marriage. This will give same-sex couples the same tax advantages as married heterosexual couples. This only applies to the federal income tax. State tax returns will still be governed by state law.
It won’t be surprising if same-sex couples can also file joint bankruptcies in the near future, though that will be more problematic than income tax returns. Bankruptcy is a federal law and it seems logical that Windsor would likewise apply to bankruptcy. However, in those states which have “opted out” of the federal bankruptcy law exemptions (which includes Utah), state law determines what exemptions are available in bankruptcy. If state law gives an exemption to a married couple, or if it gives a greater exemption to a married couple, it may well be that even though a same-sex couple could file a joint bankruptcy, they might not enjoy the same exemption benefits as a heterosexual couple in that state.
For an update on where same-sex marriage stands, check this link:
