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Tax Day Trivia and Fun Facts

Deadline To File Taxes Looms
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As you are reading this, some of you have already filed your income taxes, gotten a refund, and are on to planning something fun for the upcoming weekend. Others are doing nothing but dreading Tax Day in a big way, and maybe even hitting the panic button a little bit. You still have a little bit of time to find all those receipts, and take a deep breath for the inevitable. And by the way, Tax Day this year, 2017, is today, April 18th. This is due to April 15th being on a Saturday, and Emancipation Day being celebrated in Washington D.C. on April 17th. So you got a little bit of extra time before the deadline, which is great news!

There are a lot of interesting things about Tax Day in America, and some really fascinating facts from AOL Finance. And, also,some very important info that all Americans need to know, from the folks at efile.com. Check out some cool details below, and we hope you’re not too stressed out by the prospect of filing your taxes this year.

 

  • Federal Tax Form 1040 was introduced in 1913, and was required if you made $3,000 or more income in one year. It was only 3 pages long!
  •  The Social Security Act was signed into law by President Franklin D Roosevelt in 1935, and the first Social Security numbers went into effect in 1936.
  •  In 2009, the IRS received 131,543,000 individual income tax returns, and if only one individual had to process all of them, it would take over 250 years!
  •  The very first income tax imposed in the USA was in 1861, in order to pay for the Civil War.
  •  The Federal Income Tax Withholding that is in effect today, was first used in 1943 as part of the Current Tax Payment Act. It was supposed to make things more ‘convenient’ for taxpayers.
  • In the 1970’s the ‘Presidential Campaign Fund’ box was added to the forms to assist candidates. Since then, over a billion dollars has been collected for various candidates running for President of the United States.
  • There are at least 480 tax forms listed on the IRS website, and 1,132 tax related forms are also available to download.
  • In 2007, The IRS reported than 1 in every 3 Americans, (99,316,995), received help from the IRS by calling, writing, or walking into an office for assistance with their taxes.
  • He’s considered one of the smartest men who ever lived, but Albert Einstein once said ‘The hardest thing in the world to understand is the income tax.’

 

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