Income Tax Pay Day - April 15th, 2025
April 15th, 2025, is just around the corner, and you know what that means... it's Income Tax Pay Day! Yes, you read that right! While it may not be the most thrilling holiday on the calendar, it's definitely a significant one, and I'm excited to dive into its history, traditions, and how people celebrate it (or not, let's be real!)! So, let's start with the history of Income Tax Pay Day . Believe it or not, this "holiday" has been around since 1861! That's right, during the Civil War, the US government introduced the first income tax to help fund the war efforts. The initial tax rate was a whopping 3% on incomes above $800 (around $25,000 in today's dollars). Fast forward to 1895, when the Supreme Court ruled that the income tax was unconstitutional. But, the government didn't give up! In 1913, the 16th Amendment was ratified, allowing Congress to levy an income tax on citizens. And, in 1918, the modern income tax system as we know it today ...