Happy Fourth of July – Independence Day

Anthony Speziale – Tax Shop & Financial Center

I will take a break from taxes because the government is constantly changing the law on the fly and tax practitioners are fed up right now.

Oh yeah, unemployment adjustments started. Advance payments on the Child Tax Credit (instead of on the 2021 tax return) begin in July for those that have children. The IRS will come out with a portal to make sure you can enter correct banking information. Enough about taxes for now!

***Happy Fourth of July – Independence Day ***

I want to begin this article with this factoid. We celebrate July 4th as Independence Day, the day the colonies declared independence from British rule.

Yet, the real story is that on July 4th, the writers finished the final draft of Declaration of Independence in Philadelphia. Those that were in attendance signed the document outlining why the colonies unanimously sought to break ties with Britain. The draft was distributed to the states’ delegates for a final signing on August 2nd back in Philadelphia.

On April 12, 1776, the revolutionary convention of North Carolina specifically authorized its delegates in the Congress to vote for independence. On May 15 the Virginia convention instructed its deputies to offer the motion—“that these United Colonies are, and of right ought to be, free and independent States”—which was brought forward in the Congress by Richard Henry Lee on June 7. John Adams of Massachusetts seconded the motion. By that time, the Congress had already taken long steps toward severing ties with Britain.

 A committee consisting of Thomas Jefferson, John Adams, Benjamin FranklinRoger Sherman, and Robert R. Livingston was promptly chosen on June 11 to prepare a statement justifying the decision to assert independence, should it be taken. The document was prepared, and on July 1, nine delegations voted for separation, despite warm opposition.

On July 19, the Congress ordered the document to be engrossed as “The Unanimous Declaration of the Thirteen United States of America.” It was accordingly put on parchment, probably by Timothy Matlack of Philadelphia. Members of the Congress present on August 2 affixed their signatures to this parchment copy on that day and others later.

And that, is the real story!

I just got 2 watch dogs. Their names are Rolex and Timex.