Modern finance · 1950s–1990s
1955
April 15 becomes tax day
The US income tax deadline moves from March 15 to April 15.
The first federal income tax returns were due on 1 March 1914, and the deadline later moved to March 15. The Internal Revenue Code of 1954 moved it to April 15, starting in 1955.
Late payers owe a penalty, today 0.5% of the unpaid tax for each month, plus interest.
💡 Why it made sense then
Far more people filed after World War II, and the IRS needed more time to process returns.
🎮 In Journey Shares
The game's tax day is every Monday at 12 AM ET, with the same 0.5% late penalty.
Ideas it gave us
- 🧮 Tax day
Tax day is the deadline to file your return and pay what you owe. In the US it's usually April 15, and paying late adds penalties and interest.
Practise with $10,000 in play money
Free. No real money involved.