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Business Latest: Taxes for same-sex couples

This will be an historic tax season as married gay couples are required to file their federal taxes as a married couple. For state taxes, it’s a mess.
/ Source: MSNBC TV

This will be an historic tax season as married gay couples are required to file their federal taxes as a married couple. For state taxes, it’s a mess.

TAX FILING FOR SAME-SEX MARRIED COUPLES: This will be an historic tax filing season as married gay couples are not only allowed – they are required – to file their federal taxes as a married couple. Some couples will get hit with the “marriage penalty” and have to pay higher taxes. Some can go back and claim refunds from previous years. For state taxes, it’s a mess. Read more

POPE SACKS FOUR CARDINALS: Pope Francis has sacked nearly all the cardinals from the commission charged with overseeing the scandal-hit Vatican Bank, just 11 months into their five year term. Read more

CNBC 25: FUTURE DEMOCRACY IN CHINA? IT WILL NEVER HAPPEN: Where will the world be in a quarter century? Michelle sat down with renowned futurist and founder of Archetype Discoveries Worldwide Clotaire Rapaille to talk about what he sees for the globe in the next 25 years. Among his predictions: China will never be a democracy, and Iran is set to become the leading power in the Middle East. Read more

WALL STREET PULLS PLUG ON TWO-DAY RALLY; MOSTLY LOWER AS EARNINGS DISAPOINT:Read more