How Many Days Until Tax Day?

Tax Day is the annual deadline for filing federal income tax returns in the United States, usually April 15. If that date falls on a weekend or holiday, the deadline shifts to the next business day.

💰 Tax Day Facts

💰 Why Is Tax Day on April 15?

The original deadline was March 1 when the income tax was first introduced in 1913. It moved to March 15 in 1918, and then to April 15 in 1955. The IRS said the change was to spread out the workload, but tax historians beleive it also gave the government more time to hold onto refund money.

📊 How Many Americans File Taxes?

About 150 million individual tax returns are filed each year. Roughly 70% of filers receive a refund, with the average refund hovering around $3,000. Despite the April 15 deadline, about 20 million Americans file for an extension every year, pushing their personal deadline to October 15.

💰 How Much Does America Spend on Tax Preparation?

Americans collectively spend over 13 billion hours and $300 billion per year on tax preparation. The average cost of hiring a professional tax preparer is about $220 for a simple return and over $500 for more complex filings. About 55% of filers use paid preparers, while roughly 35% use software like TurboTax or H&R Block. The remaining 10% still file on paper.

📅 What Happens if You Miss Tax Day?

If you owe money and miss the deadline without filing an extension, the IRS charges a failure-to-file penalty of 5% of your unpaid taxes per month, up to 25%. There is also a failure-to-pay penalty of 0.5% per month. Filing an extension gives you until October 15, but it only extends the filing deadline, not the payment deadline. Any taxes owed are still due on April 15.