The focus of our practice in Stamford and New Haven Connecticut is estate planning, as well as civil and criminal taxpayer representation. With the United States Supreme Court’s decision to strike down the core of the Defense of Marriage Act (“DOMA”), suddenly same sex couple in Stamford, Connecticut and elsewhere who have been denied the federal estate exemption may now seek a refund from the IRS for all those estate taxes and income taxes paid that would otherwise have been exempt.
Currently, the federal estate tax exemption is $5.25 million, however, married couples are entitled to an unlimited marital estate tax deduction, as it has always been public policy not to tax the surviving spouse for assets left to him or her by the deceased spouse. Same-sex couples have been denied this exemption by the IRS pursuant to the terms of DOMA. Any couple that was charged an estate tax that would have otherwise avoided it because of the unlimited marital deduction may now seek a refund from the IRS of those taxes paid.
For income taxes, the same-sex couple has been forced to file as “single” for federal income tax purposes, and may now amend returns with the IRS to file “married filing joint” and seek refunds that they were previously denied.
If you would like to discuss a estate planning, the impact of the court’s decision on DOMA or any other federal IRS tax matter in Stamford, Connecticut or elsewhere, please feel free to contact me at (203) 530-7298 or by email at firstname.lastname@example.org
Eric L. Green, Esq.
Green & Sklarz LLC
New Haven, CT Stamford, CT