American Holidays: Tax Day

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Tax Day is not a federally-recognized holiday, and no businesses or schools give time off for the date, but it is a day most Americans mark on their calendars.

Despite being a day without parties or a fancy dinner, Tax Day is an important date to remember, because it is the deadline for Americans to file their tax returns to the Internal Revenue Service (IRS).

Watch CNN Explains: Tax day, by CNN, to learn about this day:

The first U.S. income tax was introduced in 1861 to help finance the Civil War. Many felt taxing personal income was unconstitutional and, therefore, the tax was only levied when funds were needed, until 1913.

In 1913, the government ratified the sixteenth amendment to the Constitution, which allows Congress to levy and collect taxes as needed. Since then, the income tax has been an American way of life.

When each American receives a paycheck from his or her employer, money is automatically taken from his or her earnings and given to the state and federal governments. This money is referred to as income tax.

Each year, Americans must file a tax return with the IRS that summarizes their earnings for the previous year.

The IRS reviews the tax returns to ensure each American paid his or her fair share in taxes.

Sometimes, they find certain people still owe money in taxes, so those people must pay the balance that still remains to the state and federal governments.

Other times, they find people overpaid, or deductions were claimed that allow them to get back some of the money they paid during the year. These people are issued a refund check by the federal government.

Each year, Americans have between January 1 and Tax Day to file their tax returns. Those who do not file their tax returns by the specified date can incur penalties and fines.

The date on which Tax Day falls has changed throughout the years. When the sixteenth amendment was ratified in 1913, March 1 was set as Tax Day. As the years passed, it has slowly been pushed back to a later date.

As of 2018, Tax Day falls on or around April 15.

• After reading about Tax Day, what do you think?
• Is it a date that should be feared?
• Is it an annoying holiday or is it just like any other day?

Those who are organized and file their tax returns early will tell you Tax Day is just another day. On the other hand, those who procrastinate and wait until the last minute to file their taxes find the holiday to be a nuisance.

Move on to the Got It? section to continue learning about Tax Day and develop your own opinions about the date.