Current:Home > MarketsWhy is tax day on April 15? Here's what to know about the history of the day -Elevate Capital Network
Why is tax day on April 15? Here's what to know about the history of the day
View
Date:2025-04-14 09:00:49
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 The act was later repealed, re-adopted and then held unconstitutional.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! (4477)
Related
- Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
- Khloe Kardashian Has the Perfect Response to Critical Comment About Tumor Removal Bandage
- The Traitors Reunion Teaser Shows the Aftermath of Season 1’s Shocking Finale
- U.K. plan to cut asylum seeker illegal arrivals draws U.N. rebuke as critics call it morally repugnant
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- Kate Spade 24-Hour Flash Deal: Get This $400 Tote Bag for Just $99
- Abbott Elementary's Chris Perfetti Is Excited for Fans to See the Aftermath of That Moment
- A Black, trans journey through TV and film
- Average rate on 30
- Larsa Pippen Has the Best Response When Asked About 16-Year Age Difference With Boyfriend Marcus Jordan
Ranking
- 'Most Whopper
- 'It's not over yet': Artists work to keep Iran's protests in view
- Thinking she had just months to live, Laura Dern's mother 'spilled the beans'
- The Sweet Ways Heather Rae and Tarek El Moussa Celebrated One Month With Son Tristan
- Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
- Matthew McConaughey’s Look-Alike Sons Are All Grown Up In Rare Picture
- A new documentary on the band Wham! shows the 'temporal nature of youth'
- Kelly Clarkson wants you to know her new album isn't just a sad divorce record
Recommendation
Rylee Arnold Shares a Long
Trench Coats Are Spring's Most Versatile Outerwear Look— Shop Our Favorite Under $100 Styles
Thinking she had just months to live, Laura Dern's mother 'spilled the beans'
Jessica Chastain Has the Last Laugh After 2023 SAG Awards Slip
'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
Prince Harry and Meghan's kids Prince Archie and Princess Lilibet's new titles appear on U.K. royals' website
Ryan Seacrest will be the new host of 'Wheel of Fortune'
Moscow will try to retrieve U.S. drone wreckage in Black Sea after Pentagon blames Russian jet for crash