A Brief Timeline of Tax Practices of the US, Part 1
Sunday, February 7th, 2010
W. Marc Gilfillan, CPA, NC, individual and business CPA and Tax expert, shares about the history of taxes…
Between 1868 to 1913, almost ninety percent of the national government’s revenue was derived from taxes on alcohol and tobacco. During the Civil War the government instituted a short income tax, but it was not until 1913 when the sixteenth Amendment permitted Congress to tax incomes “from whatever sources attained.” The initial 1040’s were due on March 1, 1914. There wasn’t any money withheld from paychecks and none was sent away with
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