MONEY GAME: The Surprise Presidential Tax Return | Franklin D Roosevelt Presidential Tax return image

Q: Which U.S. President Sent in this Tax Return? | Franklin D Roosevelt Presidential Tax return image
Check this Tax Return

(Answer at end of post)

Most presidents release tax returns only for years they serve in office and only while they still hold that office. Hint: this is the first presidential tax return on file with the Tax History Project. For more recent presidential returns, go here. Now, let’s play Name That President’s Tax Return.

What Does the Law Say About Presidential Tax Returns?

Presidents aren’t required by law to release their tax returns. For example, President Gerald Ford released no complete returns, but released 10 years of summary data including gross income, taxable income, major deductions, and taxes paid. On September 27, 2020, The New York Times reported it had obtained 17 years’ worth of President Trump’s individual and corporate returns. The Times received those returns from anonymous sources and has said it will not release them publicly to protect those sources. The documents are not available to news organizations at this time. 

Why is Tax Day on April 15? | Presidential Tax Return
Tax Return Time

So When is Tax Day for 2022?

April 18, 2022 is the deadline to file taxes or to request an automatic extension for an extra six months to file a return.

Tradition has it that the U.S. tax deadline day for the Internal Revenue Service in the United States. But for 2022, the change for the actual date for Tax Day has changed due to a holiday for the federal capital: April 16 is Emancipation Day in Washington, D.C.

This holiday celebrates the day in 1862 when President Abraham Lincoln freed 3,000 slaves in the D.C. area. by signing the District of Columbia Compensated Emancipation Act.

In 2022, the April 16 holiday falls on a Saturday, so it will be observed on the closest weekday – Friday, April 15. The tax day deadline will be pushed back to Monday, April 18 for everyone (except residents of Maine and Massachusetts. Residents in those states must file by April 19 since April 18 is Patriots’ Day).

What is the Tax History Project?

The Tax History Project was established by Tax Analysts in 1995 to provide scholars, policymakers, students, the media, and citizens with information about the history of American taxation. The project pursues its mission through a program of web-based documentary publication and original historical research.

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