M300 Blog / March 27th
Presenting: The Interesting Side of Tax Day!
TAXES ARE DUE MONDAY, APRIL 15
Sigh. Nobody likes filing their taxes. But — believe it or not — there are some fun facts and trivia around Tax Day that just might make it a little easier when faced with all those forms. Presenting: The Interesting Side of Tax Day!
The first national income tax was instituted in 1894 — and declared unconstitutional just one year later. So what happened?
The 16th Amendment changed the Constitution to allow for Congress to “have power to lay and collect taxes on incomes …” And here we are.
Which state takes the blame for allowing the 16th Amendment to pass? Take it up with Delaware, the 36th state to ratify the amendment.
April 15 is not always the deadline for filing. Tax Day cannot be on a weekend, and it cannot be on Emancipation Day, a holiday in Washington, D.C. that falls on April 16. No extra days this year though, folks.
It is thought that Einstein once said, “The hardest thing in the world to understand is income taxes.” If Einstein said that, how on Earth are we normal people supposed to do them?!
Odd taxes throughout history include those on playing cards, windows, fireplaces, dice, bricks, wallpaper, hats, candles, wig powder, blueberries, body piercing, and fur.
Is this the year you’ve decided to save up for a down payment, make renovations to your home, or purchase an investment property? If you’re expecting a tax refund this year, those funds could help you achieve your goals.
We are not tax preparers or advisors, nor financial consultants. Consult your tax advisor or financial advisor for more information.
1-5: Constitution Center, “Why Do We Have the IRS: 10 Tax Day Questions Answered.”
6: efile.com, “Strange & Unusual Taxes Throughout History.”
Posted from VibrantLiving Newsletter - https://www.vibrantlivingnewsletter.com/single-post/2019/01/24/Tax-Day-Is-On-The-Way-1
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