Deloitte Announces Tax Equalization Benefits for Domestic Partners
Organization reinforces commitment to inclusive culture; will adjust salaries to cover taxes on healthcare benefits for all registered domestic partners
NEW YORK, June 1, 2012 /PRNewswire/ -- Effective June 3, Deloitte will adjust salaries to offset the imputed income charged to its professionals who cover same- and opposite-sex domestic partners on their medical and/or dental plans.
Deb DeHaas, chief inclusion officer, Deloitte LLP, states, "This decision is great news not just for our gay, lesbian, bisexual, transgender, and heterosexual professionals who cover their domestic partners, but for all of Deloitte. With a small but growing number of companies who offer this benefit, Deloitte is part of an elite group of progressive employers who are leading the way in creating a cultural change."
Under IRS regulations, domestic partners do not qualify as tax dependents, so healthcare premium payments made by Deloitte on behalf of domestic partners are treated as taxable income. With this new domestic partner benefit, Deloitte will pay for the tax impact by grossing up salaries for the value of the premium provided to a domestic partner. As a result, there will be no impact to net pay.
"Our decision to provide this tax gross-up reinforces Deloitte's long-standing commitment to an inclusive and equitable culture and further strengthens an environment where leaders thrive," says Jennifer Steinmann, chief talent officer, Deloitte LLP.
Deloitte has been recognized by several organizations for being a great place to work and for promoting diversity and inclusion, receiving:
- FORTUNE's 100 Best Companies to Work For® list for the 13th year
- A top-10 ranking on The 2012 DiversityInc Top 50 Companies for Diversity®, Deloitte's ninth year on the list.
- A 100 percent rating in the 2012 Human Rights Campaign (HRC) Corporate Equality Index for the fifth consecutive year, and recognition on their Best Places to Work for Gay, Lesbian, Bisexual and Transgender (GLBT) Equality list.
- A top-10 ranking on The DiversityInc Top 10 Companies for LGBT Employees three times.
And recently, in an effort to remind young LGBT people that they are not alone and to help them see the goodness their futures will hold, a number of professionals from Deloitte and Deloitte Touche Tohmatsu Limited's Canadian member firm shared their personal journeys in an emotional and uplifting video for the It Gets Better Project.
About Deloitte's Talent Initiatives
As the nation's largest professional services organization, our ability to attract, develop and deploy high-performing talent is critical to delivering superior performance and serving our clients with distinction. Our aim is to offer challenging work to our people, enhance their careers and fuel our business growth by fostering an environment where leaders thrive. This is a meaningful part of the Deloitte culture, and a value understood, shared, and recognized by our clients and our professionals. Please visit us at http://www.facebook.com/YourFutureAtDeloitte and follow us at @LifeAtDeloitte. For more information on Deloitte's award-winning Talent initiatives, please visit deloitte.com.
As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
SOURCE Deloitte LLP
More by this Source
Mitchell Morris Named Leader of Deloitte's National Provider Practice
Jul 24, 2013, 08:00 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.