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Bloomberg Talks to Joanne Youn: Practitioners Say Major Guidance Needed from Federal Agencies for Same-Sex Couples

July 1, 2013, Bloomberg BNA

Joanne C. Youn was quoted by Bloomberg BNA's Daily Tax Report concerning the tax and financial implications for same-sex married couples after the Supreme Court overturned a portion of DOMA.  For the full article, please visit Bloomberg BNA's website.

Excerpt taken from the article.

The ruling also allows gay married couples to receive the same tax and financial benefits—and penalties—as opposite-sex married couples in terms of health care, retirement savings, Social Security, transfers of property, and others.

However, without further action from Congress, the president, and the Internal Revenue Service, the full tax implications of the Supreme Court's decision are not completely evident, Joanne Youn, a member in Caplin & Drysdale's Employee Benefits practice, told BNA June 27.

"The court's decision, for a decision of this magnitude, is relatively short," Youn said. "Even though they refer to over a thousand [federal] laws pertaining to spouses, they don't go into details," she noted. The court's decision does not require states to recognize a same-sex marriage in another state, she said. "While this decision may bring clarity in the 13 states and [the District of Columbia] where same-sex marriage is recognized, there are several open questions in terms of how this would apply in the other 37 states," Youn said.


 

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