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The normaI tax of 1 per cent shall be assessed on the total net income less the specific exemption of $3,000 or $4,000 as the case may be. (For the year 1913, the specific exemption allowable is $2,500 or $3,333.33, as the case may be.)
7 lip 2005 · America’s First Income Tax Form. Ever wonder what the original 1913 IRS 1040 form looked like? See a PDF version here. Notable for its four-page length—and single page of instructions—the original 1040 requires at least one thing modern forms don’t: math knowledge.
15 kwi 2013 · One comparison is with the original IRS form for the year 1913, when the federal income tax was first permanently introduced. (There had been a temporary income tax during the Civil War.) The...
13 wrz 2022 · Passed by Congress on July 2, 1909, and ratified February 3, 1913, the 16th amendment established Congress's right to impose a Federal income tax. Far-reaching in its social as well as its economic impact, the income tax amendment became part of the Constitution by a curious series of events culminating in a bit of political maneuvering that ...
In 1913, the States ratified the 16 th Amendment, instituting the federal income tax. The 1913 tax looks nothing like it looks today. For example, where the actual form and directions fit on a mere four pages in 1913, they total an intimidating 106 pages today. 1. Click here to see the 1913 IRS Form 1040.
1913: The federal income tax resurfaces with the 16th Amendment to the Constitution, giving Congress legal authority to tax income. 1943: The Current Tax Payment Act is signed into law. It is designed to make income tax collection easier.
Federal income tax was thereupon reintroduced in the Revenue Act of 1913. In the case of Brushaber v. Union Pacific Railroad Company (1916), [ 3 ] the 1913 Act was ruled to be constitutional. A separate excise tax was also imposed on corporations. Subsequent legal actions were concerned with what should be counted as "income" under the 1913 Act.
