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Tax Day!

Are you looking at the title of this blog and letting out a groan? I almost did as I was typing it! Tax Day…ugh.

Tax Day is traditionally on April 15th every year. I don’t know of a single person who looks forward to actually doing their taxes. Of course, we all get excited when our tax refunds come in, whether it’s a direct deposit or a check. Well, for those of us who receive refunds, anyways.

Last year was a nice break on taxes when the federal government extended the deadline for taxes from April 15th to July 15th due to the pandemic. I will be very honest and say that I absolutely took advantage of the extension that the government gave the American people, and I filed my taxes in July. I know not everyone was able to do this. If I’m being really honest, I could be okay with never having to file my taxes. But isn’t that all of us?

Another Extension!

Once again, our government has given us another extension on getting our taxes done. It’s not as extensive as the last one, but we now have until May 17th to have them filed. In fact, your phone may have already moved the Tax Day in your calendar. I noticed it was moved on my iPhone.

So, why do we have to file taxes in the first place? We can blame Abraham Lincoln for the first federal income tax. In 1861, he needed help funding the Union during the Civil War, and he enacted a 3% federal income tax to any household making more than $800 a year. Today that would equate to about $23,500. Lincoln’s tax system was repealed in 1871.

Tax Day Used To Be March 1st

In 1913, Tax Day was on March 1st. It appears that there isn’t any reason why that day was chosen. According to newsweek.com, in 1955, the date was then moved to April 15th, for a reason not exactly based on anything with our government. Moving Tax Day from March to April allowed people an extra month to recover from the holiday season. While that was appreciated, one can interpret this as going from one stressful time of year (the holidays) to another stressful time of year (tax season).

As I’m writing this, I know full well that I need to file my taxes. I mean, I did admit to waiting until the last minute. I’ll get them done sooner rather than later and before the new deadline. Just have to suck it up and get them done.

I’m not sure where the team with Albuquerque Plumbing Heating & Cooling stands on their taxes and whether or not they’re done. But I’m sure they’re ready to get them done and over with and that they will be looking forward to receiving their refunds. The next question is…will they do anything fun with those refunds?

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