Posted by: Author | April 12, 2013

Friday Facts- April 12, 2013- Internal Revenue Service

Yep, tis that time of year again. I realized I haven’t shared the history of the IRS and the first actual tax returns that were required to be filed.

Our good friend Abraham Lincoln and the Congress of 1862 created the Commissioner of Internal Revenue and started the first income taxes in order to pay for the costs of the civil war. This first law for income taxes was repealed ten years later. Congress tried to bring it back in 1894 but the US Supreme Court ruled that it was unconstitutional. BUT! The idea had been planted and there was a plan afoot to bring it back via a constitutional amendment.

In 1913, the sixteenth amendment was ratified by the states giving Congress the right to impose such taxes and thereafter, we’ve been subject to them. The first form 1040 was made in the same year and the tax rate was 1% for incomes over $3,000.00 and 6% for incomes over $500,000.00. How’s that for a tax rate?

Anyway, that’s enough boring stuff. I’m guest posting two places today and sharing Venice photos. One is at Naughty Author Chicks where my pal Casey Crow has invited me over. The other is where my dear friend Shay Lacy has asked me to pop in. Check me out here and here if you get a chance.

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Responses

  1. I guess the “I” has their place but they can be the most frustrating organization on the face of the planet.

  2. Yep. And it’s been climbing ever since. I don’t mind paying my due. I just wish they’d simplify things. Of course, that could put a lot of accountants out of work, couldn’t it.

    • Indeed it would, Laurie. But they do need to simplify a bit. By the way, the highest rate ever was during WWII when it was 77%

  3. I know supporting our country is essential. I just wish it were fairer and more straight forward. Popping over to check out your guest blogs.

    • Amen Lavada. I agree about the I. Lol. And thanks for the support as always.


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