When is Tax Day 2017?
By Kevin McHugh
Tax Day normally falls on April 15, but if you procrastinated this year, you’ll have some breathing room.
Late on your taxes? Don’t fret, as your taxes are due April 18 of this year, as opposed to the regular date of April 15. Independent contractors can breathe a sigh of relief, and those who filed late can expect a longer wait for their tax return.
April 15 falls on a Saturday this year, which normally would push the day of reckoning to the 17th. However, April 17 is Patriot’s Day, and is considered a legal holiday in the District of Columbia. Since April 17 is Monday, Tax Day is pushed to the 18th.
April 15 was not always Tax Day, as March 1 was the date chosen when the 16th Amendment was passed, permitting the government to implement a federal income tax. When the Revenue Act of 1918 was passed, the date was pushed to March 15th, and was pushed to April 1h after the Internal Revenue Act of 1954.
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According to Jessica Sung of Fortune Magazine, one explanation for moving the date could be the federal income tax began to apply to a growing middle class population, which required more time for the IRS to process a greater number of tax returns. Sung also states the IRS earns more interest the longer it takes to process your refund.
Some look forward to Tax Day, while others dread it. Luckily, anyone who procrastinated on their taxes get a few extra days this year.