Tax Filing Extension

April 16, 2017

Traditionally, taxes must be filed by April 15th. Of course, the writers at BDSC are so busy doing other things, like writing, that we waited to the last minute to file our own personal taxes. As the midnight deadline approached we kept saying "I'll do it after I finish this article" and when we finally logged on and were ready to apply for an extension to procrastinate a little longer, we were pleasantly surprised to discover that our Master, the government, has graciously extended the deadline to April 18th. We thought you might be in a similar boat and need more time, so we thought we would share the news with our readers. If you are like us, Tuesday you'll be filing for that extension.
 
 
 
If you have ever asked yourself "why do we even need to pay taxes?" The Department of the Treasury explains why:
 

Oliver Wendell Holmes, former Justice of the United States Supreme Court, once said, "Taxes are what we pay for a civilized society." Although people work hard to meet their needs and the needs of their families, there are some things they cannot purchase themselves. For example, the taxes paid to state and local jurisdictions help pay for police and fire protection. These taxes also pay for the operation of the local governments, and for local recreation areas such as parks and other public facilities.

 

On the national level, Federal income taxes help pay for defense for the country. They also pay for capital facilities such as highways and other transportation services, and for help for those who are poor or ill. These are all services that individual citizens cannot purchase the way they can buy food and clothing and the other necessities of life. When people live together in a society, all of its citizens must bear the cost of providing such services. Taxes are the means by which the society raises the money to cover these public costs.

 

 

 

Share on Facebook
Share on Twitter
Please reload

Disclaimer: BDSC works hard to bring quality material to our members and provide proper credit to the original author(s) via links to sources. Since much of our website is made of user-generated content, we can't always verify these sources. If you believe we have used your copyrighted content without permission, send us an email and we will remove it immediately or provide proper attribution to the material (your preference).

September 14, 2019

March 29, 2019

Please reload

  • Facebook Social Icon
  • Instagram Social Icon
  • Pinterest Social Icon
  • Twitter Social Icon

Knowledge is Power