It’s that special time of year — tax season! This year, tax filings are due by April 18, 2017. Whether you worked a part-time job at school, put in some time as a Starbucks barista or have a “real job,” you have to pay income taxes. If you’re lucky, you may walk away with a fat refund after filing… or you might find out you owe more. To soften the blow, brush up on your tax trivia and don’t let your accountant see you cry.
11. TAX BREAK
There are seven states that do not charge an income tax: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming.
10. MORE YOU MAKE, MORE THEY TAKE
The United States has a progressive tax system, which means the more money a person makes, the more they pay in income tax.
9. TIME IS MONEY
Collectively, Americans spend more than 3.24 billion hours, which is about 369,858 years, preparing and filing their taxes each year.
8. FROM THE ROOT
The word “tax” is from the Latin word taxare, which means, “To censure, charge, compute.”
7. LONG READ
The Federal Tax Code is over 70,000 pages.
6. SAVE A HORSE, FIGHT A TAX
In Britain, Lady Godiva took an infamous ride on a horse in the nude as a form of protest against taxes.
5. NOT THAT KIND OF TEA
While Lady Godiva created a ruckus, the most famous tax protest is the Boston Tea Party. On December 16, 1773, colonists dumped tea into the Boston Harbor in protest of Britain’s oppressive tax measures, shouting, “No taxation without representation!”
Some famous tax evasion cases include the creator of Beanie Babies, actor Wesley Snipes and Joe Francis, a producer of raunchy reality TV.
3. CHECK THAT
It wasn’t until 1943 that the government began withholding income taxes from employees’ paychecks to help fund the war. Before that, Americans were responsible for saving money on their own to pay their taxes.
2. DOLLAH, DOLLAH BILLS Y’ALL
Americans paid almost $5 trillion in federal, state and local taxes last year, on average more than their combined costs for housing, clothing and food.
1. TIME WELL SPENT
It takes the average worker 107 days, more than three months of work, to earn enough money to pay their taxes.