Friday, November 12, 2010

Financial Firm to Lead Way in Reimbursing LGBT Workers for Benefit Taxes

by Maurice Michaane

Barclays is now the first financial services company in the U.S. to reimburse gay and lesbian employees for federal taxes on health and other benefits provided to domestic partners. Barclays is only covering these costs ($1k+) for same-sex partners, since heterosexual domestic partners have the option to marry, which is recognized at the federal level and thereby waives the federal benefit tax.

Barclays is now one of only three major corporations to be proactive here, the others being Google and Cisco. This is truly a landmark achievement for gay and lesbian employees at Barclays, and I hope the firm's leadership will inspire other corporations to take similar action! I know that this is by no means a substitute in our fight for state and federal recognition of gay marriage, but it does underscore the ways in which corporate allies can foster a fair and inclusive workplace, even when our governments lack the courage or resolve to do so.

Click here for a full story by Bloomberg.

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