As of 11414 Charlotte Cathro CPA Meyers Brothers Kalicka PC Your Presenter Charlotte Cathro CPA Manager Meyers Brothers Kalicka PC M ember of the Massachusetts Society of Certified Public Accountants and the American Institute of Certified Public Accountants ID: 813447
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Slide1
The DOMA Decision: An Update
As of 1/14/14Charlotte Cathro, CPAMeyers Brothers Kalicka, P.C.
Slide2Your Presenter
Charlotte Cathro, CPA, Manager, Meyers Brothers Kalicka, P.C.
M
ember
of the Massachusetts Society of Certified Public Accountants and the American Institute of Certified Public Accountants. B.A. in Mathematics from Brandeis University and an MSA from Suffolk University. Board treasurer of Dakin Humane Society.
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Slide3Overview
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Slide4DOMA
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Slide5Discussed Effects of DOMA
Income TaxesHealth Care & BenefitsImmigrationSocial Security, Medicare & Medicaid
Gift & Estate
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Slide6Windsor v. United States
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Slide7The Decision
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Slide8Effect of Decision - Income Taxes
August 29, 2013 – IRS issues guidance (Rev. Rul. 2013-17), same sex couples recognized, based of state of celebration
In prior practice, the IRS has used state of residence as determining factor
Amendments available for open years, but not required
Income tax analysis performed on couples to determine tax impact8
Slide9Effect of Decision - Health Care/Benefits
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Slide10Effect of Decision - Immigration
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Slide11Effect of Decision – Social Security, Medicare & Medicaid
Based on state of residenceAugust 9, 2013 SSA Commissioner announces some but not all spousal claims for social security will be processed
SSA Program Operations Manual System updated for process of approving claims
Social Security claims where living in non-recognition state are currently being held, not denied
Medicaid is a federal-state cooperative program – Per guidance SHO# 13-006, they are leaving it up to the state but encouraging recognition
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Slide12Effect of Decision – Gift & Estate Taxes
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Slide13Open Questions
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Slide14Estate Planning Considerations
Still not the same as opposite sex couplesOwnership of property in a non-recognition state
Contain conditional language
What
if the client moves to a non-recognition state?What if some of the open considerations change – use “if applicable”
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Slide15Resources
Lambda Legal Fact Sheethttp://
www.lambdalegal.org/publications/after-doma
IRS Revenue Ruling 2013-17http://www.irs.gov/pub/irs-drop/rr-13-17.pdf SSA Updates to Program Operations Manual Systemhttps://secure.ssa.gov/apps10/public/reference.nsf/links/12132013093759AM
https://
secure.ssa.gov/apps10/public/reference.nsf/links/12132013094242AM!opendocument&vName=instructiontypecode&catval=POMT
https://
secure.ssa.gov/apps10/public/reference.nsf/links/12132013094652AM!opendocument&vName=instructiontypecode&catval=POMT
Medicaid SHO # 13-006
http://
www.medicaid.gov/Federal-Policy-Guidance/Downloads/SHO-13-006.pdf
DOL
Technical Release No.
2013-04
http://
www.dol.gov/ebsa/newsroom/tr13-04.html
DOL Wage and Hour Division Fact Sheet #28F
http://
www.dol.gov/whd/regs/compliance/whdfs28f.htm
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Slide16Contact Information
Charlotte Cathro, CPA Meyers Brothers Kalicka, P.C.
330 Whitney Avenue, Suite 800
Holyoke, MA 01040
Direct: 413-322-3481Fax: 413-322-3347ccathro@mbkcpa.com 16