As April 15th approaches, the tax demon looms over many households. Does it cause tension in your family? Do your kids wonder what you are mumbling about when you mention deductions, capital gains and percentages?
The US Government has a great site to help answer those questions for even some of the youngest inquiries.
And teachers if you want to combine the season with your lessons, how about the IRS site for youngsters?
or the US treasury:
Learn how the tax system actually works: http://people.howstuffworks.com/income-tax.htm
And just in case you wonder where it all came from, you can discover information at these sites:
Welcome to the Tax History Project, a public service initiative from Tax Analysts. Established in 1995, the Project provides scholars, policymakers, journalists, and the general public with information on the history of U.S. public finance.
The most interesting part of income tax is its relationship to money. Everyone needs to understand money and the lessons should start with the very young. Here are some resources to help you prepare our future tax payers:
The US Mint: http://www.usmint.gov/kids/flashIndex.cfm
Savings Bonds for Kids: http://www.publicdebt.treas.gov/sav/savkids.htm
Money Central: http://www.bep.treas.gov/kids/start.html
Welcome to TTB Kid's Connection: http://www.ttb.gov/kids/index.htm
Money is good for nothing unless you know the value of it by experience. - P.T. Barnum