17
2015
10 Tax Season Tips and Tidbits
Now that the 2015 tax season is in full swing, we thought you might enjoy the following tax tidbits:
1. On August 5, 1861 the U.S. government levied the first income tax to help fund the Civil War. Income over $800 was taxed at a 3% rate. In 1895, the Supreme Court declared income tax unconstitutional. Sorry . . . don’t get your hopes up. In 1913, the 16th amendment was ratified and permanently established income taxation.