By Staff Reporters
***
***
TRIVIA QUESTION: What date has never been known as Tax Day?
A. March 1st
B. March 15th
C. April 15th
D. May 1st
ANSWER: D—May 1st.
After the 16th Amendment cleared the way for the modern version of the federal income tax, the first filing deadline fell on March 1, 1913. Congress shifted Tax Day to March 15 after passing the Revenue Act of 1918, which introduced a progressive income tax structure to increase revenue during World War I. Since 1954, Tax Day for most Americans has been April 15 (or the next business day if the 15th falls on a weekend or holiday).
CITE: https://www.r2library.com/Resource/Title/082610254
COMMENTS APPRECIATED
Thank You
***
***
Filed under: Accounting, Taxation | Tagged: 16th amendment, Accounting, April 15th, federal tax filing deadline, IRS, tax, Tax Day | Leave a comment »
















