Current:Home > ContactWhy is tax day on April 15? Here's what to know about the history of the day -FinanceAcademy
Why is tax day on April 15? Here's what to know about the history of the day
View
Date:2025-04-15 10:31:30
Are you ready? Tax day is here.
Tax day, or the last day for U.S. taxpayers to file a 2023 return, falls on April 15 almost every year, unless that day conflicts with a weekend or a holiday. And April 15 is on a Monday this year, so tax day continues as planned for most states.
If you're not ready to submit your taxes today, April 15 is also the last day to file an extension, which grants a six-month extension and greatly reduces any potential penalties or interest rates that can come with filing late.
We know that April 15 is tax day, but why was it chosen, and how long has it been designated as the last day to file taxes? Here's what to know about the history of April 15.
Tax Day 2024 live updates:What to know about extensions, free file, deadlines and refunds
Why is tax day on April 15?
April 15 as the designated last day to file taxes in the U.S. has historic origins.
President Abraham Lincoln first added a federal income tax with the Revenue Act of 1861 to help fund the Civil War. Taxes were based on assessments not voluntary tax returns, the date they were due varied. The act was later repealed, re-adopted and then held unconstitutional.
The 16th Amendment to the Constitution was ratified in 1913, which gave Congress the authority to tax all incomes. The first filing deadline in 1913 was March 1, which was changed to March 15 in 1918 and finally to April 15 in 1955 to allow for more time for people to prepare their returns.
The deadline remains on April 15 today, unless it conflicts with a holiday or a weekend.
Is tax day a federal holiday?
Although it is the last day to submit a federal tax return, April 15 is not a federal holiday. Government agencies, schools, banks, the post office and other businesses will remain open as usual.
Tax day is only delayed if April 15 falls on a weekend or a holiday and if so, the deadline is moved to the next business day, the IRS says.
What other tax deadlines fall on April 15?
Tax Day is not just the deadline to file your federal taxes for the prior year.
If you earn income that isn't subject to withholding taxes, you're typically required to make estimated tax payments to the IRS. The agency divides the year into four quarterly payment periods, and the first quarterly payment for 2024 is due today.
Most state taxes are also due on April 15. Residents of Massachusetts and Maine have until April 17 to file federal taxes because of state holidays. There are other exceptions.
Contributing: Daniel de Visé, USA TODAY.
veryGood! (9811)
Related
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- Ex-staffer sues Fox News and former Trump aide over sexual abuse claims
- HCA Healthcare says hackers stole data on 11 million patients
- A Plea to Make Widespread Environmental Damage an International Crime Takes Center Stage at The Hague
- Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
- Did AI write this headline?
- Maps show flooding in Vermont, across the Northeast — and where floods are forecast to continue
- Celebrity Makeup Artists Reveal the Only Lipstick Hacks You'll Ever Need
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- Two U.S. Oil Companies Join Their European Counterparts in Making Net-Zero Pledges
Ranking
- Realtor group picks top 10 housing hot spots for 2025: Did your city make the list?
- Daniel Radcliffe, Jonah Hill and More Famous Dads Celebrating Their First Father's Day in 2023
- Five Climate Moves by the Biden Administration You May Have Missed
- Oil refineries release lots of water pollution near communities of color, data show
- What do we know about the mysterious drones reported flying over New Jersey?
- This drinks festival doesn't have alcohol. That's why hundreds of people came
- Bank of America says the problem with Zelle transactions is resolved
- Tori Spelling and Dean McDermott Break Up After 17 Years of Marriage
Recommendation
Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
How Shanna Moakler Reacted After Learning Ex Travis Barker Is Expecting Baby With Kourtney Kardashian
Warming Trends: Bugs Get Counted, Meteorologists on Call and Boats That Gather Data in the Hurricane’s Eye
Maya Rudolph is the new face of M&M's ad campaign
IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
Five Things To Know About Fracking in Pennsylvania. Are Voters Listening?
In Georgia Senate Race, Warnock Brings a History of Black Faith Leaders’ Environmental Activism
Maryland, Virginia Lawmakers Spearhead Drive to Make the Chesapeake Bay a National Recreation Area