History of Taxation

------------------------------------------------- Top of Form Bottom of Form Taxes April 15 is one of the most feared eld on the US calendar of events!! This is the deadline established by the US government when all working individuals must submit a completed Income Tax and reconcile their tax bill with the impose agencies. Income tax has been the main cite of funding for several wars and government-funded programs. Taxes actuate every person, business, and property. Tax laws are very complex and fox been a challenge not only for the tax payers just now accountants and tax preparers because of the constant changes. This paper seeks to explore the history of the federal official Income Tax System, the Internal Revenue Code, the Internal Revenue Service, and guidelines and expediency of the tax system. History of Taxation in the coupled States forward to 1913 government programs were funded mainly by imposing customs and impress duties. However, in 1861 the government imposed federal income tax on individuals to fund the civil war but was repealed after the war. The taxation system in the United States is governed by different levels of government. thither are different methods of taxation as well. The tariffs imposed were the largest cause-go of federal revenue from 1790 to the eve of World War I.

This was the largest source of income until the collection of income taxes. Congress adopted federal statutes imposing sound obligation to pay federal income taxes in 1861 and 1862 to pay for the accomplished War. The law levied in 1862 stated that income over $800 was to pay 3%, above $10,000 was to pay 5%. These rate were raised in 1864. In 1872, this income tax was repealed and a new statute Wilson-Gorman duty Act was enacted in 1894 (History of Taxation in the United States,). It was named by West Virginias representative William L. Wilson and Marylands Senator Arthur P. Gorman. This tariff act reduced the US tariff rates from the 1890 McKinley tariff and forced a 2% income... If you want to get a full essay, order it on our website: Ordercustompaper.com

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