S CORP, C CO
Here come the scary decorations, pumpkin carving, trick-or-treating, and spooky costumes because Halloween is just around the corner! These traditions are what make Halloween fun and exciting year after year. However, did you know that jack-o’-lanterns come from an Irish legend or that trick-or- treating comes from a historical ritual called “souling”? The Origins and Legends Behind Your Favorite Traditions Let’s Unmask Halloween:
INNOCENT SP A Lifeline for Unexpe
When you say “I do,” you aren’t only promising to share love and companionship with your partner until death do you part, but you also agree to be honest and open when sharing financial and tax obligations. However, sometimes, a spouse may face unexpected tax liabilities due to their partner’s actions (or non-actions). That’s where innocent spouse relief comes into play — it provides relief for a spouse who unknowingly or mistakenly signed a joint tax return with a partner and later incurred penalties, liabilities, or interest. Here’s what you need to know about the financial protection and peace of mind that innocent spouse relief offers. Innocent Spouse Relief in a Nutshell Innocent spouse relief is a provision put into place by the IRS that relieves taxpayers from the tax liability resulting from errors or omissions made by their spouse or former spouse on a jointly filed tax return.
As we prepare for Oct. 31 activities, here are some fun facts you might not know about Halloween!
Halloween is based on a Celtic festival. Samhain, a pagan festival held from Oct. 31 to Nov. 1, celebrated both the harvest and the “dark” second half of the year. During this celebration, it was believed the barrier separating the spirits from the physical world would come down, allowing demons to enter and the spirits of all who passed away that year to move on to the next life. ‘Stingy Jack’ helped evolve jack-o’-lanterns. The Irish myth of a man named “Stingy Jack” goes like this: Stingy Jack invited the devil for a drink, and because he didn’t want to pay, he convinced the devil to turn into a coin so he could buy their drinks. However, instead of paying, he placed the “coin” next to a cross in his pocket that prevented the devil from returning to his original form. Once he freed the devil, Stingy Jack continued to trick him. When he died, God turned away Stingy Jack with only coal to light his way, so he placed the coal in a carved-out turnip to create a lantern. From there, people slowly transformed his “lantern” into the modern-day jack-o’-lantern! Candy corn was once called chicken feed. Candy corn, which the Wunderlee Candy Company began producing in the late 1880s, is an extremely popular Halloween candy. In fact, today, about 35 million pounds of the candy are sold each year! When the Goelitz Candy Company brought it to the masses at the turn of the century, they called the sweet tricolored candy “Chicken Feed” because so many people worked on farms at the time. Their early ads exclaimed, “Something worth crowing for!”
To qualify, these criteria must be met:
Joint Return
The erroneous item must have been
reported on a joint tax return. If the couple filed separately, they are not eligible for this relief.
Homemade Pumpkin Spice Latte Inspired by AmbitiousKitchen.com
Now you know! Happy Halloween!
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