Tax and financial advice from the Silicon Valley expert.

What are special income tax problems for same sex couples in Community Property states?

This week’s interview on Financial Insider Weekly is with Professor Patricia Cain of Santa Clara University School of Law. Our interview subject is, "Income tax problems for same sex couples in Community Property states".

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IRS says California RDPs should split wages on tax returns

The IRS Chief Counsel's Office has issued updated guidance, CCA 201021050, the federal government recognizes community property rights of California registered domestic partners in earned income effective January 1, 2007. Therefore, one-half of the earned income of a partner should be reported on each partner's federal income tax return, unless the RDPs execute an agreement opting out of community property treatment.

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Tax and financial advice from the Silicon Valley expert.