Monday/ US Federal Income Taxes at 100 years

Since I work for an auditing firm, the are graciously helping out with the preparation of my federal tax return.  (They did send me to China in 2012 which very much complicates the federal tax return, but the help is still appreciated).  I still have to fill out an intimidating questionnaire, since the 2013 federal tax code is very different, very much more complicated than the very first one issued in the USA 100 years ago in 1913, which was all of four pages.   Check it out below .. pictures and commentary I got from a recent Sunday edition of the New York Times.

Page 1 sm
The Gilded Age of the Rockefellers and the Vanderbilts – as well as World War I – resulted in lawmakers instituting a permanent federal income tax in 1913. (A temporary income tax was instituted in 1861 to defray the costs of the Civil War).
Page 2 sm
In the early years it was up to individuals to report an estimate of their earnings and write a check.
Page 3 sm
All forms of interest were deductable e in those days.
Page 4 sm
The United States taxes the world-wide income of its citizens, one of only a few countries to do so.

Leave a Reply

Your email address will not be published. Required fields are marked *