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Wilson signed the bill into law on October 3, 1913. The Revenue Act of 1913 lowered average tariff rates from 40 percent to 26 percent. It also established a one percent tax on income above $3,000 per year; the tax affected approximately three percent of the population.
The temporary measure funded over a fifth of the Union's war expenses before being allowed to expire a decade later. In 1913, the Sixteenth Amendment to the U.S. Constitution was ratified, authorizing Congress to impose a tax on income and leading to the creation of the Bureau of Internal Revenue. In 1953, the agency was renamed the Internal ...
By February 1913, the required three-fourths of the states ratified the Sixteenth Amendment, thus adding the amendment to the constitution. [17] Later that year, Congress enacted the Revenue Act of 1913. The tax ranged from 1% on income exceeding $3,000 to 7% on incomes exceeding $500,000.
Hundreds of Congressional acts have been passed since 1913, as well as several codifications (i.e., topical reorganizations) of the statutes (see Codification). The modern interpretation of the Sixteenth Amendment taxation power can be found in Commissioner v. Glenshaw Glass Co. 348 U.S. 426 (1955). In that case, a taxpayer had received an ...
Three more states ratified the amendment soon after, and eventually the total reached 42. The remaining six states either rejected the amendment or took no action at all. Notwithstanding the many frivolous claims repeatedly advanced by so-called tax protestors, the Sixteenth Amendment to the Constitution was duly ratified as of February 3, 1913.
Prior to the Amendment, Article I, Section 3 provided that the Senators were chosen by their state legislatures for a term of six years. The 17th Amendment changed the selection process to an ...
‘The average American cares about defunding 87,000 IRS agents’ This week’s vote comes just as Danny Werfel is set to return this year as IRS Commissioner, leading the agency’s revamp .
In 1964, white Californians overwhelmingly voted to make segregation a part of the state's Constitution with the passage of Prop 14. In 1964, white Californians overwhelmingly voted to make ...