Happy 100th Birthday Income TaxNovember 20th, 2013
February marks the month when the 16th Amendment, the Income Tax amendment, was ratified.
And here (courtesy of Americans for Tax Reform) are a few fun facts about income taxes:
- Top tax bracket in 1913: 7%
- Top 1913 tax bracket threshold, in today’s dollars: $11.6 million
- Top 2013 tax bracket threshold: $450,000
- Total number of 1040s filed in 1913: 358,000
- Total number of 1040s filed today: 140 million
- Total pages in the 1913 tax code: 400
- Total pages today: 73,954
Tucson CPA and Tax Firm, Flower Rieger and Associates, P.L.L.C. offers tax preparation for businesses and individuals. The Tucson CPAs of Flowers Rieger also offer aggressive tax strategies and planning, accounting and bookkeeping, financial statement preparation, estate and trust tax preparation and more CPA services.