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The Supreme Court’s DOMA Decision: Tax Impact and Analysis
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Tuesday, July 30, 2013
1:00 PM - 3:00 PM US Eastern
12:00 PM - 2:00 PM US Central
11:00 AM - 1:00 PM US Mountain
10:00 AM - 12:00 PM US Pacific
5:00 PM - 7:00 PM GMT

Presented by

Steven G. Siegel, J.D., LL.M. (Taxation)

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To order a recording of this event, click Recordings on the menu.

Summary

What immediate tax practice steps are required for same-sex married couples after U.S. Supreme Court Windsor and Hollingsworth decisions?
The U.S. Supreme Court’s decision to strike down the Defense of Marriage Act (DOMA) opens the door for same-sex married couples to enjoy many federal tax-related benefits previously available only to opposite-sex married couples. Marriage is the “trigger” for more than 1,000 tax and benefit provisions in the Internal Revenue Code and other statutory provisions. These include income tax benefits, estate and gift tax benefits, taxpayer-friendly employee benefits, and more. Same-sex couples must now also deal with circumstances under the tax law that may create a so-called “marriage penalty.” Employers must prepare for extensive changes in the treatment of same-sex couples. And individuals claiming tax credits and other provisions under the Patient Protection and Affordable Care Act are impacted by the decision. Tax practitioners need to hit the ground running for clients who may want to file protective refund claims and amended returns in the wake of this historic decision.

Presented by noted tax practitioner, author and educator, Steven G. Siegel, J.D., LL.M., this timely and insightful program will provide practical analysis for tax practitioners as federal agencies sort out what the Windsor decision and the related ruling on California’s Prop 8 in Hollingsworth means to taxpayers. Mr. Siegel, an outstanding speaker and presenter, will review the Supreme Court decision and its potential impact and give practitioners advice about steps they must take immediately to assist clients affected by this ruling.

All tax professionals who advise clients on personal tax, estate planning and tax compliance matters will benefit from this timely and insightful seminar. You will have opportunities to ask questions directly to Mr. Siegel via email during the program.

Program Topics

I. What the Supreme Court Did – and Did Not Do – Regarding Same-Sex Marriages

            A. States Where Same-Sex Marriage is Recognized

            B. States Where Same-Sex Marriage is Not Recognized

 II. What Are the Implications for a Couple’s Federal Filing Status?

            A. Married Filing Jointly - Married Filing Separately – Head of Household

            B. Should or Must Open Tax Year Returns Be Amended?

            C. Marriage Penalty Relief

            D. Consider Thresholds for the Net Investment Income Tax – Top Tax Rate on Income –
               
Top Tax Rate on Capital Gains and Qualified Dividends

            E. AGI Floors for Medical, Casualty and Miscellaneous Itemized Deductions

            F. Subject to the Pease Limitation and Personal Exemption Limitation?

            G. Dependent Claims and Credit Issues

            H. Divorces and Separations: New Rules Will Apply to Property Transfers

            I. Innocent Spouse Rules Will Be Available

III. Retirement Plan Issues

            A. Rollover Opportunities

            B. Qualified Plan Protection

            C. QDRO Rules will be Available

IV. Limitations on Losses between Family Members 

V. Family Attribution Rules will Apply

VI. Estate and Gift Tax Issues

            A. The Unlimited Marital Deduction will Apply for Lifetime Gifts and Transfers at Death. 
                Gift-Splitting will Apply

            B. Portability will Apply

            C. Special Rules Involving Jointly-Held Property and Use of Retained Interest Trusts
                (GRATs, GRUTs, QPRTs) will Apply

VII. Employee Benefits

            A. Spouses will be Covered on an Employee’s Health Plan. How will This Affect Employers?

            B. Changes will Occur under COBRA, Health Savings Accounts, Flexible Spending Accounts,
                Cafeteria Plans

            C. The Affordable Care Act – Couples will be Treated as Spouses for Purposes of the Individual 
                Mandate and Premium Care Assistance

VIII. Social Security Benefits

            A. Persons Considered Married are Eligible for a Portion of the Spouse’s Benefits as well as for
                Survivor’s Benefits

            B. Divorced Persons are Eligible for Benefits on Their Spouse’s Record

            C. Surviving Spouses are Eligible for a Death Benefit

Learning Objectives

  • Explain current tax planning steps for same-sex couples who are married under state law
  • Identify estate planning opportunities and pitfalls for same-sex couples
  • Discuss tax filing status and other issues raised by recognition of same-sex marriages

Who Should Attend?

  • Tax professionals in industry, CPAs, EAs, return preparers, tax attorneys and other tax practitioners will benefit from this insightful seminar.

Earn CPE Credit

  • Two hours CPE credit.  One free CPE certificate for one person is provided with each site registration. CPE certificates are available for $25 each for each additional person wishing to receive CPE credit for their participation. *NOTE: CPE credits/certificates are not available for recorded versions of seminars.
  • Course Level:  Update
  • NASBA Field of Study:  Taxes
  • Prerequisite:  None
  • RTRP/EA CPE Credits:  This course has been submitted to the IRS for CPE credits for Registered Tax Return Preparers and Enrolled Agents
  • CFP Credits:  This course has been submitted for registration with the CFP Board
  • Learn More About CCH's NASBA Registration

Special Gift

  • As our “thank you for attending” gift, firms registered for this seminar will receive a complimentary issue of CCH’s TAXES: The Tax Magazine  in electronic format.

About the Speaker

Steven G. Siegel, J.D., LL.M. (Taxation) 
Steve Siegel is president of The Siegel Group, a Morristown, New Jersey-based national consulting firm specializing in tax consulting, estate planning and advising family business owners and entrepreneurs. Mr. Siegel holds a B.S. from Georgetown University, a J.D. from Harvard Law School, and an LL.M. in Taxation from New York University. He is the author of several books, including the Grantor Trust Answer Book published by CCH, and is a nationally-recognized writer and speaker who has lectured extensively throughout the United States on tax, business and estate planning topics. Mr. Siegel is on the LL.M. faculty at the University of Alabama Law School and has also served as an adjunct professor of law at Seton Hall and Rutgers University law schools.

Comments from Attendees of CCH Seminars Presented by Steve Siegel

  • "Mr. Siegel kept the seminar moving quickly, kept it relevant, and presented really well. The information offered was exactly what I was looking to get from the seminar.”
  • "Speaker was knowledgeable and interesting. Enjoyed his presentation. He moved along at a nice pace and covered all of the materials. I will definitely sign up for more courses given by this presenter.”
  • "Siegel is head and shoulders above any other tax instructor I've ever had - and this is my 46th year as a CPA!”
  • “Mr. Seigel is always excellent! I come out of his seminars having learned volumes!!”
  • "Steven Siegel does a terrific job of going through the materials at the perfect pace, hitting all the important items that I was looking for. Please use him again in the future!”
  • "Steven does a great job presenting topics in a clear, distilled manner that is not too technical for non-specialists. He also has clear diction, and good cadence, never droning.”
  • "Excellent. Very clear and concise. There was a lot of valuable information explained in a simple way in a short period of time!"
  • "Steven G. Siegel is a great speaker!”
  • "The instructor covered details at a reasonable pace, which is greatly appreciated. This webinar exceeded my expectations and was better than many webinars offered by other vendors.”
  • “I appreciated that additional comments and interpretations of the material was provided rather than simply reiterating exactly what was in the handout.”

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