Tax Day

Tax Day (Taxes Due) History

Tax Day marks the last day to file income taxes in the United States. The history of US Income Tax dates back to the Civil War and the Revenue Act of 1861. This tax was imposed to help pay the costs of the war. After several repeals, new taxes, and subsequent repeals, the 16th Amendment to the US Constitution was ratified and signed into law in 1913. This established the right of Congress to impose a Federal Income tax.

The Income Tax remains the primary way that the US Government finances itself. To ensure that all monies due for the prior year are paid, a Tax Day was created. All US taxpayers are required to file taxes based on the prior year's earnings by this date. Traditionally, this date has been on April 15 of each year. If this day falls on a weekend, the due date is extended to the following Monday. This date is also impacted by the Emancipation Day holiday in Washington DC.

Top 10 Facts for Tax Day (Taxes Due) in 2026

• The One Big Beautiful Bill Act has introduced a substantial new deduction for service industry employees, allowing eligible workers to exclude up to $25,000 of qualified tip income from their federal taxable earnings.
• Under the policy known as No Tax on Overtime, taxpayers can now claim a deduction of up to $12,500 for individuals or $25,000 for married couples filing jointly on their qualified overtime pay.
• A new Car Loan Interest Deduction allows filers to write off up to $10,000 in interest paid on loans for new, personal-use passenger vehicles that were assembled within the United States.
• The federal cap for the State and Local Tax deduction has been significantly increased from its previous $10,000 limit to $40,000 for the 2025 tax year.
• Taxpayers aged 65 and older are entitled to an Enhanced Senior Deduction of $6,000 per person, which is available even to those who choose not to itemize their deductions.
• The Internal Revenue Service has officially discontinued the Direct File pilot program, requiring taxpayers who previously used the tool to transition to the IRS Free File system or other commercial services.
• The maximum Child Tax Credit has been raised to $2,200 per qualifying child, and for the first time, the refundable portion of the credit is indexed to inflation.
• Digital asset brokers are now required to issue the newly created Form 1099-DA to report cryptocurrency transactions and other digital asset sales directly to the government.
• Parents can now establish Trump Accounts for their children, which serve as specialized tax-advantaged savings vehicles, by submitting Form 4547 with their annual return.
• The Treasury Department has begun a mandatory phase-out of paper refund checks, meaning the vast majority of taxpayers must provide a bank account for direct deposit to receive their tax overpayments.

In the News and Trending for Tax Day

Top things to do for Tax Day

• Be sure to mail your Tax Return before the midnight of the designated tax day.
• File for an extension before midnight, if needed.
• Take advantage of Tax Day Freebies at local restaurants.
• Visit Office Depot and shred your old documents for free.
• Watch a movie that deals with taxes and the consequences of unpaid taxes. Our picks: Stranger Than Fiction (2006), Catch Me If You Can (2012), The Firm (1993), The Mating Game (1959)