Calculated annually by the Tax Foundation, a public policy think tank in Washington, D.C., Tax Freedom Day represents the first day in which Americans as a whole will have paid off their federal, state, and local tax obligations for that calendar year.
According to the Tax Foundation, in 2011 Americans spent 102 days working to pay off their taxes, meaning that Tax Freedom Day arrived on April 12. That's three days later than the one in 2010, but nearly two weeks earlier than the one in 2007.
The latest in the year that Tax Freedom Day ever arrived was May 1 in 2000, leaving conservatives nationwide disappointed with combo Loyalty Day/Tax Freedom Day presents instead of getting two separate gifts.
