Tags: Same | Sex | More | Taxes

CNN: Same-Sex Families Pay Thousands of Dollars More In Taxes

By    |   Wednesday, 28 December 2011 07:50 AM EST

Marriage is often linked to financial benefits. But, a CNN analysis found that when it comes to taxes, same-sex couples are often big losers.

President Barack Obama ordered U.S. diplomatic missions and federal agencies working abroad to fight against international discrimination against gays, lesbians, bisexuals and transgender individuals, The Washington Post has reported.

However, as the nation prepares to move into tax season, it appears these same individuals may be set to face discrimination of sorts here at home.
_________________________________________________________

ALERT: Wall Street Whistleblower Warns of Meltdown — See His Uncensored Interview.

_________________________________________________________

According to the research of CNN tax specialists, same sex spouses are paying as much as $6,000 a year in extra taxes because the federal government doesn't recognize gay marriage.

In addition to often facing higher tax bills because they are unable to use the “married filing joint” status, CNN Money says many same-sex spouses don't qualify for the same marital exemptions given to other families for inheritance taxes and gift taxes.

obamagetty200v5.jpg
President Barack Obama
(Getty Images photo)
In addition, same-sex households receive lower tax exclusions for capital gains on the sale of a home (unless the home is jointly owned and each spouse qualifies for the exclusion), CNN Money adds.

Obama said no country should deny people their rights because of who they love, which is why we must stand up for the rights of gays and lesbians everywhere, says The Washington Post.

However, there appears little that can be done to provide equal treatment to same-sex couples under the U.S. tax code.

CNN Money says the federal government is constrained by the 1996 Defense of Marriage Act.


© 2025 Newsmax Finance. All rights reserved.


StreetTalk
Marriage is often linked to financial benefits. But, a CNN analysis found that when it comes to taxes, same-sex couples are often big losers. President Barack Obama ordered U.S. diplomatic missions and federal agencies working abroad to fight against international...
Same,Sex,More,Taxes
271
2011-50-28
Wednesday, 28 December 2011 07:50 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved