Fun – or maybe not so fun – facts!

• • Before 1913 there was no federal income tax, the government relied mostly on tariffs and excise taxes.

• • In 1913 Congress passes an act shortly after the 16th Amendment is ratified; it introduces a federal income tax and sets the first modern filing deadline:
    

     

    • • March 1, 1914 is the first official “Tax Day.”

• • In 1918, the deadline was moved to March 15, giving taxpayers and the IRS more time.

• • In 1955, Congress pushes the deadline to April 15, where it remains today.

• • During COVID-19, the date was extended (temporarily), in 2020 it moved to July, and 2021 it moved to May.

• • The U.S. tax code – and all its regulations, rulings, and case law – can run over 70,000 pages.

Source: HR Block/Wikipedia

Happy Tax Day!

 Maria Cox