One of the more compelling reasons to pursue tax reform is the fact that the U.S. has the highest corporate tax rate in the developed world. Another compelling reason is that U.S. multinational corporations (MNCs) must...
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- Today is Not Tax Day (But It Usually Is!)
Today is Not Tax Day (But It Usually Is!)
Betsy Ross made the first U.S. flag, Abraham Lincoln freed the slaves, and Tax Day is April 15. These American immutable truths are being thrown a curveball this year, because the day that Americans must timely file their federal income tax returns for 2010 is April 18, 2011, three days later than usual.
The reason? Emancipation Day, which celebrates Lincoln's freeing of 3,100 slaves in the District of Columbia on April 16, 1862, nine months before he signed the Emancipation Proclamation.
Since the holiday falls on a Saturday, it will be observed on Friday, April 15.
The extra time will also apply to taxpayers requesting an extension, who will have until October 17 to file.
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