Tax Day (Taxes Due)

Tax Day Quick Facts - CA

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Related Hashtags#Taxes, #Tax, #IRS, #Taxseason, #FinancialLiteracyMonth
2021 DateMay 17, 2021
2022 DateApril 18, 2022
Tax Day (Taxes Due)

Tax Day (Taxes Due) History

Tax Day marks the last day to file income taxes in the United States. The history of US Income Tax dates back to the Civil War and the Revenue Act of 1861. This tax was imposed to help pay the costs of the war. After several repeals, new taxes, and subsequent repeals, the 16th Amendment to the US Constitution was ratified and signed into law in 1913. This established the right of Congress to impose a Federal Income tax.

The Income Tax remains the primary way that the US Government finances itself. To ensure that all monies due for the prior year are paid, a Tax Day was created. All US taxpayers are required to file taxes based on prior years earnings by this date. Traditionally, this date has been on April 15 of each year. If this day falls on a weekend, the due date is extended to the following Monday. This date is also impacted by the Emancipation Day Holiday in Washington DC.

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Tax Day (US) Facts & Quotes

  • The IRS has extended the federal income tax filing deadline for the 2020 tax year to Monday, May 17, 2021. The date was originally April 15th however, the deadline was extended due to Covid-19.
  • Although the IRS has extended the federal income tax filing deadline, several states have different deadlines. These states include Hawaii, Idaho, Maryland, and Oklahoma. Iowa and Arizona may also change their deadlines so be sure to keep up to date with your state’s deadlines.
  • During World War I, around 1918, the highest income tax rate was over 77%.
  • The power of taxing people and their property is essential to the very existence of government. - US President James Madison
  • A tax loophole is something that benefits the other guy. If it benefits you, it is tax reform. - US Senator Russell B. Long,

Tax Day (Taxes Due) Top Events and Things to Do

  • Be sure to mail your Tax Return before the midnight of the designated tax day.
  • File for an extension before midnight, if needed.
  • Visit Office Depot and shred your old documents for free.
  • Take advantage of Tax Day Freebies at local restaurants.
  • Watch a movie that deals with taxes and the consequences of unpaid taxes. Our picks: Stranger Than Fiction (2006), Catch Me If You Can (2012), The Firm (1993), The Mating Game (1959)

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