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Today’s Law of the Day comes to you by reason of it being Tax Day today.
When April 15th finally passes each year, most of the country heaves a sigh of relief – tax season is over, no tax checks to the government for another year!
Did you know, April 15th wasn’t always tax day? In fact there was a time when income taxes weren’t even mandatory.
The federal income tax was first introduced under the Revenue Act of 1861 to help fund the Civil War but was repealed since. In 1913 the Sixteenth Amendment to the US Constitution was ratified and gave the US Congress the legal ability to tax all incomes.
In 1913 Tax Day was actually March 1st, this was changed to March 15th in 1918 and finally Tax Day was changed to April 15th in 1955 where it remains today. In the event that the 15th falls on a Saturday, Sunday or Holiday, Tax Day is postponed to the next business day that isn’t a Holiday.
Don’t forget to pay your taxes!
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