Tax Day
It’s April 15th…and that means tax day.
Etched into the facade of the IRS Building at 1111 Constitution Avenue is a quote from former Justice of the Supreme Court, Oliver Wendell Holmes, Jr…
”Taxes are what we pay for a civilized society.”
Formed during the Civil War, the the Bureau of Internal Revenue was enacted to collect income taxes to help pay war expenses. At that time, a 3% federal tax was levied on all people earning an annual income of between $800 and $10,000 per year. Today, that income would equate to between $15,000 and $200,000. A 5% tax rate …read more
Comments Off




5 Comments