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The History of April 15th and Tax Day

April 15 isn’t most Americans’ favorite day, and that’s because most years, it’s the official, federal tax deadline (for the first time in 65 years, tax day now falls on a different day, July 15, 2020) . Tax Day, as it’s called, has a long and interesting history in the States that goes all the way back to Abe Lincoln’s leadership. Federal income tax was introduced with the Revenue Act of 1861 to help fund the Civil War, and subsequently repealed, re-adopted, and held unconstitutional. The early taxes were based on assessments, not voluntary tax returns. Tax payment dates varied by act.

1861: The First Federal Income Tax

Abraham Lincoln, who was an American president from 1861 to 1865, proclaimed the first federal income tax his first year in office. 1861—particularly August 5—is the historical day that marks the future-changing decision. At the time, Lincoln announced a 3% tax rate for anyone who made over $800 a year (roughly $24,000 with today’s inflation). The decision was made to help fund the Union’s efforts during the civil war. Though we are still being taxed today, Lincoln’s tax system was repealed in 1871.

1894: Tariff Act of 1894 Rules […]

By Linkenheimer LLP|2020-09-03T20:03:05+00:00April 15th, 2020|irs, Linkenheimer, New Tax Laws, tax deadlines|0 Comments

Happy Holidays from the Linkenheimer Team

It’s the time of the year, where we reflect on all that is important to us: family, friends, health and hobbies. From everyone at Linkenheimer, we’d like to say thank you for your continued loyalty and faith in us. Put your feet up and have a well-deserved rest this Christmas and let every day of the holiday season be filled with joy. We look forward to serving you and our community in 2019!

Wishing Everyone a Merry Christmas and a Happy, Healthy and Prosperous New Year!

By Linkenheimer LLP|2020-09-03T20:04:22+00:00December 21st, 2018|Happy Holidays from the Partners and Staff at Linkenheimer LLP CPAs and Advisors, Linkenheimer|0 Comments

Merry Christmas and a Happy New Year from the Linkenheimer Team

Wishing you all a Merry Christmas and a Happy, Healthy, Prosperous New Year!

By Linkenheimer LLP|2020-09-03T20:05:00+00:00December 15th, 2016|firm, Linkenheimer, staff, Team|0 Comments

Tax Deadline is Around the Corner, So Here’s Some Humor to Help You Through It…

So April 15th is just a few days away, and yes, we know the real deadline is the 18th, but we’re telling our clients it’s the 15th (we don’t want to get shoeboxes of receipts next Monday afternoon). To help ease the stress that sometimes is associated with this time of the year, it seems some humor might be appropriate. We hope you enjoy and remember, no dropping off boxes of receipts on the 18th; boxes of chocolate on the other hand… they will be accepted.

“Two things you need to know about taxes. They’ve extended the deadline to April 18, and when you write your check, just make it out to China.” –David Letterman

“Tax day is the day that ordinary Americans send their money to Washington, D.C., and wealthy Americans send their money to the Cayman Islands.” –Jimmy Kimmel

“Because of a holiday, the deadline for taxes is April 18, so you have three extra days to dig through restaurant dumpsters for receipts.” –Jimmy Kimmel

“Worried about an IRS audit? Avoid what’s called a red flag. That’s something the IRS always looks for. For example, say you have some money left in your bank account after […]

By Linkenheimer LLP|2020-09-03T20:05:13+00:00April 14th, 2016|accounting, Linkenheimer, tax, tax time|0 Comments

Linkenheimer Team Goes “Down the River” in Nicaragua

It wasn’t just beaches and mai tai’s for the Linkenheimer team and their families as they spent over a week in beautiful Nicaragua. Continuing a tradition of service in the region, John Jones led two different groups from Linkenheimer down the rural region of the Rio San Juan, with the goal of delivering eye exams and prescription glasses which would have otherwise have been unattainable.

Linkenheimer traditionally enjoys a team vacation in January as a thank you for a job well done and a bonding experience before the trials of a busy tax season. This year, the team building was magnified with the opportunity of “going down the river”.

A typical “going down the river” experience usually entails: Flying into Managua; chartering a small, 16 seat plane which flies you over Lake Nicaragua (the 10th largest fresh water lake in the world), landing on the dirt “runway” in San Carlos; from there you are shuttled in trucks to the river front, where the team boards long boats, which make their way down the winding river until they reach the serene, yet primitive Sabalos Lodge. Then the real adventure begins.

The team then travels by boat to the village, where they setup […]

By Linkenheimer LLP|2020-09-03T20:05:46+00:00March 5th, 2014|Community, Linkenheimer, Nicaragua, service, Services|0 Comments