Tax Day

Tax Day is the day individual income tax returns are due to the federal government. With the ratification of the 16th amendment in 1913, which authorizes Congress to tax all incomes, the first income tax was created and due on March 1st. This was later changed to April 15th in 1955. The date, however, is not always on April 15th. If it is a Saturday, Tax Day is on Monday, but if the 15th is a Sunday, the filings are due on the following Tuesday.

Just because tax returns are due in April does not mean you have to wait until the last second to file them. This year, the IRS started accepting tax returns on January 19th. They expect more than 150 million tax returns to be filed this year with 70% receiving a tax refund. Last year, the average refund was $2,797.