April 15th is the day that every American is expected to have filed their federal income tax form. Some of us may have done it long before the deadline, some of us will wait until just before the stroke of midnight on April 15th, and some of us may be filing for extensions to defer the actual submission of the full set of income tax-related documents.
Tagged: Tax Freedom Day
Americans recently celebrated Independence Day—the day the Continental Congress formally adopted the Declaration of Independence and announced the 13 American colonies regarded themselves as sovereign states no longer part of the British Empire and subject to its rules and taxes.
Coming thirteen days after state and federal income tax returns were initially due, Tax Freedom Day, according to the Illinois Policy Institute’s Senior Budget and Tax Policy Analyst Benjamin VanMetre, marks the point in the year when Illinoisans have worked long and hard enough in the aggregate to cover their share of state, federal and local taxes “and can start keeping their hard-earned money.” About a third of Illinois residents’ efforts this year – 118 days’ worth out of the calendar year’s 365, in other words – went just to paying taxes.
One of the most dreaded days of the year is approaching … tax day. This year Tuesday, April 17 will be the last day people can file their taxes. It[…]
Today is “Tax Freedom Day,” the day on which American’s stop working to fund government and start working to fund their own needs and wants. This is according to the[…]