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Old 10-12-2011, 07:32 AM
 
Location: The 12th State
22,974 posts, read 58,489,887 times
Reputation: 14917

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Charlotte-based Bank of America says it will soon reimburse gay employees who insure same-sex partners for the extra federal taxes they are charged. Employer-paid health benefits for heterosexual married couples are nontaxable, and employees can pay premiums with pre-tax dollars.


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Bank of America will reimburse gay employees for extra taxes on benefits (http://www.charlotteobserver.com/2011/10/12/2684280/bofa-to-reimburse-gay-employees.html - broken link)
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Old 10-12-2011, 07:35 AM
 
Location: State of Being
35,885 posts, read 67,029,152 times
Reputation: 22370
Seems like a step forward to me. But I do have one thing to protest about it. Why limit it to gay partners? If my stepson is going thru/ a divorce, has moved in with me and is 35 years old, why can't I have him on my insurance policy and get the same tax break?

A business should not have to compensate for a tax reg that is wrong to begin with. The reg should be changed so that it covers gay couples - as well as others who may need to put someone on their insurance policy (a reg the insurance industry has imposed, I might add). Who the hell should care who is on my insurance policy as long as I am paying the premiums?

But yes, I am glad to see that some equity has been worked out for gay couples.
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Old 10-12-2011, 07:36 AM
 
841 posts, read 1,237,844 times
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Darned evil money grabbers. Always looking after themselves and never for the little man. ;-)
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Old 10-12-2011, 07:45 AM
 
Location: The 12th State
22,974 posts, read 58,489,887 times
Reputation: 14917
Quote:
Originally Posted by anifani821 View Post
Seems like a step forward to me. But I do have one thing to protest about it. Why limit it to gay partners? If my stepson is going thru/ a divorce, has moved in with me and is 35 years old, why can't I have him on my insurance policy and get the same tax break?

A business should not have to compensate for a tax reg that is wrong to begin with. The reg should be changed so that it covers gay couples - as well as others who may need to put someone on their insurance policy (a reg the insurance industry has imposed, I might add). Who the hell should care who is on my insurance policy as long as I am paying the premiums?

But yes, I am glad to see that some equity has been worked out for gay couples.
This is true but if the amendment passes in May, Insurance companies will not recognize gay couples in NC or any other type domestic household.
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Old 10-12-2011, 07:55 AM
 
841 posts, read 1,237,844 times
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Quote:
Originally Posted by SunnyKayak View Post
This is true but if the amendment passes in May, Insurance companies will not recognize gay couples in NC or any other type domestic household.
Based on that, I am sort of surprised that BOA didn't wait out the amendment to see how it would all play out.
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Old 10-12-2011, 08:43 AM
 
Location: State of Being
35,885 posts, read 67,029,152 times
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Quote:
Originally Posted by SunnyKayak View Post
This is true but if the amendment passes in May, Insurance companies will not recognize gay couples in NC or any other type domestic household.
I think we need to overhaul the definition of domestic household/partnership (but I am sure you have heard me rant on that one before, lol).

Two friends living together - as friends only - not as intimates in a relationship - should be able to establish themselves as a "household" since they are sharing expenses. Why do we have to define the nature of that relationship? Doesn't matter if they are roommates, a gay couple, a straight couple or a married couple. Just makes me crazy that everything has to be defined as a marriage b/c of IRS regs (head of household, married, etc).

The way to solve this is not to pass amendments . . . it is simple. Just change the IRS regs. Why do politicians make things complicated?

Last edited by brokensky; 10-12-2011 at 08:49 AM.. Reason: typo
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Old 10-12-2011, 08:46 AM
 
Location: State of Being
35,885 posts, read 67,029,152 times
Reputation: 22370
Quote:
Originally Posted by lowercountry View Post
Based on that, I am sort of surprised that BOA didn't wait out the amendment to see how it would all play out.
I would think they are doing it to appear "ahead of the curve" and to look like they are progressive corporate citizens. They need some positive publicity right now.

Do I sound jaded?

Regardless, it was a good thing to do for their employees.
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Old 10-12-2011, 09:07 AM
 
Location: The 12th State
22,974 posts, read 58,489,887 times
Reputation: 14917
Quote:
Originally Posted by anifani821 View Post
I think we need to overhaul the definition of domestic household/partnership (but I am sure you have heard me rant on that one before, lol).

Two friends living together - as friends only - not as intimates in a relationship - should be able to establish themselves as a "household" since they are sharing expenses. Why do we have to define the nature of that relationship? Doesn't matter if they are roommates, a gay couple, a straight couple or a married couple. Just makes me crazy that everything has to be defined as a marriage b/c of IRS regs (head of household, married, etc).

The way to solve this is not to pass amendments . . . it is simple. Just change the IRS regs. Why do politicians make things complicated?
I agree there needs to be serious over haul and reform to what America is today and not base on what was define decades ago.

Bank of America has offered this coverage since 1998. This is alot of reimbursement if it goes that far.
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Old 10-12-2011, 09:15 AM
 
Location: State of Being
35,885 posts, read 67,029,152 times
Reputation: 22370
Quote:
Originally Posted by SunnyKayak View Post
I agree there needs to be serious over haul and reform to what America is today and not base on what was define decades ago.

Bank of America has offered this coverage since 1998. This is alot of reimbursement if it goes that far.
I don't understand why we don't overhaul the tax regs in this country. Obviously, that is what needs to be done!

Social issues should not be mixed up with taxes. It is ridiculous. Everyone should pay the same percentage and benefits should not be taxed. It is nuts the way things work. I get taxed on money I earn. I save some of it. I put it in an IRA. When I take it out, I get taxed again as ordinary income. Double taxation. It just doesn't even make sense why we have allowed the government to come up with all these complicated rules - and we are in debt! How the heck could a country that has so many regs to make sure they squeeze every penny out of us be in debt TRILLIONS OF DOLLARS?

We need an overhaul of the IRS, big time.

No corporation should have to reimburse those taxes - those taxes should not even EXIST!!!!!
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Old 10-12-2011, 09:34 AM
 
2,341 posts, read 4,046,923 times
Reputation: 1667
On this I disagree. Two friends living together have no responsibility to each other .... other than to split expenses. Married couples are held legally responsible. A roommate doesn't contribute to my estate, they are responsible for my debts, etc.... they just chip in on the rent.



Quote:
Originally Posted by anifani821 View Post
I think we need to overhaul the definition of domestic household/partnership (but I am sure you have heard me rant on that one before, lol).

Two friends living together - as friends only - not as intimates in a relationship - should be able to establish themselves as a "household" since they are sharing expenses. Why do we have to define the nature of that relationship? Doesn't matter if they are roommates, a gay couple, a straight couple or a married couple. Just makes me crazy that everything has to be defined as a marriage b/c of IRS regs (head of household, married, etc).

The way to solve this is not to pass amendments . . . it is simple. Just change the IRS regs. Why do politicians make things complicated?
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