Barclays to Reimburse Gay Workers for Taxes on U.S. Benefits
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Barclays Plc, Britain’s third-largest bank, is joining Google Inc. and a small number of companies in reimbursing U.S. employees for federal tax they pay on health benefits provided to same-sex domestic partners.
The aim is to offset the tax on benefits for same-sex partners that doesn’t apply to spouses in heterosexual marriages because same-sex partnerships aren’t recognized as marriages under U.S. law, the London-based bank said today in a statement. The change will take effect Jan. 1, according to the bank, which bought the U.S. business of bankrupt Wall Street firm Lehman Brothers Holdings Inc. in 2008.