With April right around the corner everyone has a similar thought in the back of their mind, tax day. April 17, 2018 is national tax day in the United States. In other words, individual income tax returns are due to the federal government that day. It may also refer to the same day for states, even where the tax return due date is a different day. Since 1955 Tax Day has typically fallen on April 15 in the US.
Federal income tax was introduced with the Revenue Act of 1861. Its purpose was to help fund the Civil War. The early taxes were based on assessments, not voluntary tax returns. Tax payment dates varied by act.
While getting ready to file your taxes this year, here are some helpful tips to remember:
- Be honest, file all of your information correctly on your return
- Gather all necessary income documents
- Example: Form W-2, W-2G ,1099-INT, 1099-DIV, 1099-B
- Check and double-check your return
- File on time
- Try to File electronically
- Do not forget about your state tax
- Your tax return needs a signature or it is not valid
- Review/revise your W-4