Discover the real reason Tax Day was moved to April 15 in 1955. Your IRS tax refund is actually an interest-free loan to the government that costs taxpayers billions.

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00:00 — You think Tax Day is a strict accounting deadline.
00:07 — Until nineteen fifty five, taxes were due March fi
00:16 — They claimed the IRS needed more processing time f
00:23 — The real reason? It gave the Treasury an extra mon
00:31 — In nineteen forty three, the government started wi
00:37 — They collect your money weekly, but make you wait
00:44 — The nineteen fifty five delay compounded this adva
00:55 — Look at the modern numbers. Last year, the IRS iss
01:02 — The average refund was three thousand eleven dolla
01:10 — It is the exact return of an interest free loan yo
01:17 — The Treasury holds three hundred sixteen billion d
01:26 — That costs taxpayers ten and a half billion dollar
01:35 — Today, we have instant electronic filing. The pape
01:44 — Yet the April deadline remains permanently frozen.
01:53 — You celebrate your refund check, while they quietl
02:01 — The date was not chosen for math. It was chosen fo