In this episode of ‘Dr. Friday Tax Tips – One Minute Moment,’ Dr. Friday, the president of Dr. Friday’s Tax and Financial Firm, takes listeners on a historical journey through the origins of Tax Day in the United States. She reveals that the first federal income tax was filed in 1913 on March 1st, which later shifted to March 15th in 1918, and ultimately settled on the April 15th deadline we know today starting in 1955. This insightful look into the past underscores the longstanding tradition of tax filing and serves as a reminder of the importance of meeting tax obligations. Dr. Friday emphasizes that, while Tax Day has evolved, the responsibility to file remains constant, highlighting the potential consequences of non-compliance.
Transcript
G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info go to www.drfriday.com. This is a one-minute moment.
Here’s an interesting fact. A lot of times people don’t realize in 1913 was the first year we filed taxes and the tax day was March 1st. Then came a few other things and in 1918 they said, “Wait, the first is a little hard. Let’s make it March 15th.” All the way until April of 1955, they changed it to April 15th in the year of 1955. So we’ve been only doing that for a period of years and so it’s important to understand tax day is tax day and we’ve been doing it for a long time. So for all of you that think, “Well, you know what? I don’t really need to file taxes.” Sooner or later you might find tax day a lot harder than you think.
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