National Tax Day is typically on April 15 but does check your local calendar to make sure you pay those bills on time. It’s tax day, and that means learning all about that dreaded but essential date. Learn more here and crunch some numbers!
It’s April 15, and that means it’s Tax Day. Although dates change slightly every year, and today the process is a bit more complicated than that. Depending on your legal status, your tax process might begin as early as February 12, with the year’s tax season opening.
Having said that, today, we’re focusing on talking about taxes and tax day in general, so this is not financial advice.
Taxes go back to the earliest of times. The Roman Emperor or Caesar already had a well-established system to collect taxes to the people under their rule, and we’re talking about almost all known Europe.
Taxes are part of the social contract, in which, ideally, a government or land rulers protect the people living in the area and provide basic services in exchange for payment.
Taxation goes back at least 5,000 years, and it has been refined to painstaking detail to make sure the system is fair and that everyone pays their taxes on time.
Property taxes, estate taxes, inheritance taxes, sales taxes, and even gift taxes exist worldwide, and they’re all highly debated topics.
A necessary evil, our society simply wouldn’t exist without taxation, but taxes aren’t all that bad either. The government uses a part of the funds to provide education and welfare to the people, including scientific research and military protection. Again, not a perfect system, we’re part of it, and tax day is the day we all play our roles. Like it or not, you better have those numbers ready for inspection!
History of National Tax Day
Tax Day was fixed on March 1 in 1913 by ratifying the Sixteenth Amendment, but it changed to April 15 or the next working day in 1955.
The original Federal Income Tax, one of the most important taxes revenue-wise, was created to fund the Civil War by the Revenue Act of 1861 but remains in place over 150 years later.
Emancipation Day and Patriots’ Day can fall on Tax Day, and in that case, the deadline to file income tax returns changes. Weather conditions might change the day too, as seen in 1977 with the massive flooding in the East Coast, and the more current COVID-19 crisis has caused some changes. Make sure you check out your local IRS bureau to know your current status.
Taxes are no fun, that’s for sure, but when done right, you can even come out on top; just don’t forget to have everything ready by Tax Day.
How to Celebrate National Tax Day
Tax Day marks the deadline to file your income tax returns, so make sure all your papers are in order! If you’ve done your due diligence all year, then relax; you’ll do just fine.
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