Fun Facts on Taxes by Tax Defense Network

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Information about Fun Facts on Taxes by Tax Defense Network
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Published on October 1, 2014

Author: taxdefensenetwork

Source: slideshare.net

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So these were some of the fun facts about taxes to lighten the burden of what can be a lot of people’s least favorite time of the year. Certainly interesting

Many of us to focus on our finances. What did we spend? What did we save? But do we know any fun facts about our taxes?

Do you know why the specific date of April 15th chosen? Or how you can actually get rewarded by the IRS? Well, here are some insights on those, and many other, income tax facts!

Tax day wasn’t originally in April. When the 16th Amendment was introduced, the date was March 1st. That changed to March 15th and moved finally to April 15th in 1955. View slide

Income tax started because of the American Civil War View slide

You can make big money reporting a company for tax evasion! It’s called the Whistleblower Informant Award.

The federal tax code has grown to over 70,000 pages. Intimidated by the 70,000 pages? Be sure to keep a tax term glossary and tax preparation checklist handy.

Americans spend 7.6 billion hours every year preparing taxes. Sound like a lot? Well, there are roughly 312 million people in America.

New York City has the world’s highest corporate income tax.

So these were some of the fun facts about taxes to lighten the burden of what can be a lot of people’s least favorite time of the year. Certainly interesting!

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