IRS PUBLICATION 971: INNOCENT SPOUSE RELIEF
A document that outlines three classifications of tax liability relief that is available to married couples or former spouses who submitted joint income tax returns. There are three types of relief: innocent spouse relief, separation liability relief, and equitable relief. Released by the Internal Revenue Services (IRS), couples who submit a joint tax return are both responsible for the entire tax liability referred to as joint and several liability. In the event of separation, the IRS will still consider it as joint and several liability. There are some cases where the IRS will alleviate one individual of any tax liability, interest, and penalties associated to the joint tax filing.
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ECONOMIC CALENDAR
| Time | Country | Indices | Period |
|---|---|---|---|
| 12:00 | CBI retail sales volume balance | Apr | |
| 01:01 | BRC Shop Price Index | Apr | |
| 01:30 | Unemployment Rate | Mar | |
| 05:04 | BoJ MPC Interest Rate Announcement | Apr | |
| 05:04 | Monetary Policy Meeting Minutes | ||
| 05:04 | BOJ Outlook Report | ||
| 07:00 | BOJ Core CPI | Mar | |
| 08:30 | Bank of Japan Press Conference | ||
| 09:00 | Unemployment Rate | 1 quarter |
