It’s April 15! What does that mean? It means that this is the final day Americans have to file their taxes for 2012. Here, NewsOne has put together some interesting facts to know about tax day while you file those last-minute income returns.
SEE ALSO: President Releases 2012 Tax Returns
10) Federal income taxes were first introduced with the Revenue Act Of 1861 to fund the Civil War. [Source: History.com]
9) The 1040 form was introduced in 1913, mandated for U.S. citizens and residents making more than $3,000 for the taxable year. At three pages long, it was shorter than today’s 1040 forms. [Source: Daily Finance]
8) The Internal Revenue Service’s website features more than 400 tax forms. It is possible to download 1,132 tax-form related files by following specific instructions and schedules. [Source: Daily Finance]
7) Science legend Albert Einstein came up with the general theory of relativity, but he was stumped when it came to filing taxes. He once remarked that “the hardest thing in the world to understand is the income tax. [Source: Daily Finance]
6) If you want to pay lower taxes, move to North Carolina. Residents of that state have the lowest local taxes per capita at $3,384 per person, with the national average being $4,001. N.C. businesses also pay the lowest state and local taxes. [Source: North Carolina Justice Center]
5) The IRS received 131, 543,000 individual income tax returns in 2009. [Source: Daily Finance]
4) While April 15th is the usual deadline to file income taxes, it may be extended in times of holidays and extreme weather conditions to allow for for more time. [Source: timeanddate.com]
3) In 2012, Tax Day fell on Tuesday, April 17th, due to D.C.’s Emancipation Day. [Source: NPR]
2) Many Republicans have signed tax increases on lower-class people. Former President Ronald Reagan signed 11 tax increases into law for impoverished Americans, calling them “revenue enhancers.” A few months ago, Republican senators increased taxes on the least-wealthy one-third of Americans when they repealed President Obama’s “Making Work Pay Tax Credit.” [Source: Political Irony]
1) In 2007, 99,316,995 taxpayers received IRS assistance in filing their income taxes by writing, calling, and walking in to IRS offices. In statistics, that counted out to 1 in 3 Americans total. [Source: Daily Finance]
SEE ALSO: Man In SUV Allegedly Set Ablaze By Homeless Man
10 Little Known Facts About Tax Day was originally published on newsone.com
