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Topic: Revenue Act of 1861


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In the News (Tue 15 Dec 09)

  
  CRS Report on History of Federal Taxes (Copyright, 2001, Tax Analysts)
That act was made possible by the ratification of the Sixteenth Amendment to the Constitution adopted on February 3, 1913.
The first income tax revenues thus were collected under the graduated rates of the 1862 act (other provisions of this act suspended for two years the direct tax on land and provided for a new Commissioner of Internal Revenue).
The 1862 tax was revised in 1864 to meet the revenue needs of the government and to make its provisions more definite, was amended in 1865 and 1866, and was rewritten in 1867 and 1870 when the country's revenue needs were not as pressing.
www.taxhistory.org /thp/readings.nsf/0/2d52a4cfd2844fab85256e22007840e6?OpenDocument   (2775 words)

  
 Revenue Act - Wikipedia, the free encyclopedia
A number of tax-related laws enacted by the United States Congress have been called the Revenue Act:
The Revenue Act of 1764 was a law passed by Great Britain to enforce the provisions of the Sugar Act.
This is a disambiguation page — a list of articles associated with the same title.
en.wikipedia.org /wiki/Revenue_Act   (101 words)

  
 Revenue Cycle   (Site not responding. Last check: 2007-10-18)
Revenue Act of 1978 The Revenue Act of 1764 was a law passed by Great Britain to enforce the provisions of the Sugar Act.
The use of revenue stamps goes back further than that of postage stamps; the stamps of the Stamp Act of the 18th century were revenues.
Revenue stamps have become less commonly seen in the 21st century, with the rise of computerization and the ability to use numbers to track payments accurately.
www.wwwtln.com /finance/156/revenue-cycle.html   (889 words)

  
 U.S. Treasury - Fact Sheet on the History of the U.S. Tax System
The War Revenue Act of 1899 sought to raise funds for the Spanish-American War through the sale of bonds, taxes on recreational facilities used by workers, and doubled taxes on beer and tobacco.
Another revenue act was passed in 1918, which hiked tax rates once again, this time raising the bottom rate to 6 percent and the top rate to 77 percent.
Beyond the rates and revenues, however, another aspect about the income tax that changed was the increase in the number of income taxpayers from 4 million in 1939 to 43 million in 1945.
www.treas.gov /education/fact-sheets/taxes/ustax.shtml   (5631 words)

  
 History of US tax law
A new revenue act is passed increasing taxes on incomes in excess of $ 1 million per year to a rate of 77%.
However, in an evident desire to compel the plaintiff to desist from further litigation, the court went beyond the venue determination to dismiss the action with prejudice on the basis of res judicata.
Revenue Ruling 90-79 provides that a loss on a foreign currency mortgage cannot be used to offset taxable gain on the sale of a house in a foreign country.
www.aca.ch /hisustax.htm   (3869 words)

  
 Financing the Civil War: The Office of Internal Revenue and the Use of Revenue Stamps
The provisions of the 1862 Revenue Act and subsequent amendments are summarized in Tables 1 and 2.
Revenues were down to $42 million in 1861, largely because of Southern secession and other disruptions caused by the war, and deficits expanded rapidly.
Revenues were still only a fraction of spending during the war years and the deficits, nearly a billion dollars in 1865, had to be borrowed.
acct.tamu.edu /giroux/financingcivil.htm   (7411 words)

  
 Congressional Record Excerpts - F. Morse Hubbard
Like the act of 1861 it provided that the tax (or duty) collected in each year should be based on the income for the "preceding" year (sec.
Under each of these acts the tax to be paid in any given year was based on the income for the preceding year, provision was made for withholding at the source, and the tax was to be in effect only for a limited period.
Like the Civil War acts it provided that the tax should be based on the "income received in the preceding calendar year." Although the Supreme court held this portion of the act to be unconstitutional, it still recognized that the income was is essence an excise tax.
www.geocities.com /b_rookard/hubbard.html   (2057 words)

  
 Tax History Project: An Army of Officials: The Civil War Bureau of Internal Revenue
Revenues were rooted in customs and excise levies, many of which had been in operation for centuries.
Their chief motive was revenue; members voted to eliminate a direct property tax included in the House bill, and they viewed higher rates as a way to make up the lost revenue.
Revenue needs are a key determinant of tax policy; major innovations in the federal tax system have almost always grown out of acute -- generally war-borne -- revenue demands.
www.taxhistory.org /Articles/civilwar.htm   (15512 words)

  
 Revenue Act of 1861 -- Facts, Info, and Encyclopedia article   (Site not responding. Last check: 2007-10-18)
Revenue Act of 1861 -- Facts, Info, and Encyclopedia article
The 1861 Tax Act was passed but never put in force.
Rates under the Act were 3% on income above $800 (adjusted for inflation: $16,609 in 2003 dollars) and 5% on income of individuals living outside the U.S. More Subjects form Category
www.absoluteastronomy.com /encyclopedia/r/re/revenue_act_of_1861.htm   (52 words)

  
 HarpWeek | Elections | 1864 Overview
The Revenue Act of 1862 imposed excise taxes on numerous goods (alcohol, tobacco, yachts, jewelry, etc.), license taxes on all professions except the clergy, an inheritance tax, a corporation tax, and other forms of taxation.
The National Banking Act of 1863 established federally chartered banks, recognized the federal bank notes as legal tender, and levied a tax on state bank notes (to pressure state banks to become federal banks).
The Pacific Railroad Act of 1862 was the fruition of years of lobbying for a railroad line that would connect the settled eastern part of the United States with the West Coast.
elections.harpweek.com /1864/Overview-1864-1.htm   (1931 words)

  
 H&R Block - Tax Facts   (Site not responding. Last check: 2007-10-18)
The first federal income tax was authorized in the Revenue Act of 1861 to pay for the Civil War.
The tax rates and brackets were changed in 1864 to generate more revenue to pay for the increased cost of the war.
The Internal Revenue Code was recodified in 1954 and 1986.Beginning in 1981, the changes in the tax law were numerous, with revisions to the laws being passed nearly every year.
www.hrblock.com /press_relations/tax_facts/2002_001.html   (587 words)

  
 1861 - Open Encyclopedia   (Site not responding. Last check: 2007-10-18)
1861 is a common year starting on Tuesday.
August 5 - American Civil War: In order to help pay for the war effort, the United States government issues the first income tax as part of the Revenue Act of 1861 (3% of all incomes over US $800; rescinded in 1872).
In Britain, the death penalty is limited to murder, embezzlement, piracy and to acts of arson perpetrated upon docks or ammunition depots.
open-encyclopedia.com /1861   (1307 words)

  
 HarpWeek | Elections | 1864 Events
The act of February 25 authorized an installment of $150 million and an act of July 11 authorized a similar amount.
The Homestead Act was repealed in 1976, except for land in Alaska that remained open until 1986; however, most of the land settled under the act was claimed in the late-nineteenth century.
The act created the supervisory Office of Comptroller of the Currency within the Treasury Department, which chartered and periodically examined the banks, held their government bonds, and worked with the Bureau of Engraving to print the banknotes.
elections.harpweek.com /1864/Events-1864.htm   (5810 words)

  
 Ga. Constitution of 1861   (Site not responding. Last check: 2007-10-18)
The right of taxation can be granted only by the people; and shall be exercised only to raise revenue for the support of Government, to pay the public debt; to provide for the common defence, and for such other purposes as are specified in the grant of powers.
Whenever this Constitution requires an Act to be passed by two-thirds of both Houses, the yeas and nays on the passage thereof shall be entered on the journals of each.
But no bank charter shall be granted or extended, and no Act passed authorizing the suspension of specie payment by any chartered bank, except by a vote of two- thirds of each branch of the General Assembly.
www.cviog.uga.edu /Projects/gainfo/con1861.htm   (3469 words)

  
 A History of Taxation
The new act was known as the Sugar Act.
The Tax Act of 1861 proposed that "there shall be levied, collected, and paid, upon annual income of every person residing in the U.S. whether derived from any kind of property, or from any professional trade, employment, or vocation carried on in the United States or elsewhere, or from any source whatever.
The Commissioner of Revenue stated "The people of this country have accepted it with cheerfulness, to meet a temporary exigency, and it has excited no serious complaint in its administration." This acceptance was primarily due to the need for revenue to finance the Civil War.
www.taxworld.org /History/TaxHistory.htm   (1794 words)

  
 Shrine to Justin Smith Morrill
The genius of the Morrill Act was two-fold, in accord with its two governing principles: the equality of opportunity, and the utility of knowledge.
He believed that a portion of those lands or the revenue derived from their sale should be distributed among all the states of the Union and dedicated to the instruction of the youth in scientific agriculture for the promotion of that great interest which is the foundation of our national prosperity.
The act contemplated the establishment of colleges in every state, with a curriculum of study primarily designed to meet the wants of every industrial class, but involving, as well, the arts and sciences and military tactics.
www.ndsu.nodak.edu /instruct/isern/morrill.htm   (1335 words)

  
 Colonial and Post Revolutionary America - TaxGaga
The Stamp Act was passed by Parliament in order to cover about £60,000 of the £200,000 required to station troops in the colonies.
The act was seen by Charles Townshend, Chancellor of the Exchequer, as a way to fund the salaries of governors and other colonial administrators in an effort to shift the balance of power in the Colonies.
The people accepted this tax as it was necessary for revenue to finance the Civil War, but the percentage of people who actually complied was relatively low.
www.taxgaga.com /pages/c-learnabouttaxes/taxes.html   (910 words)

  
 MCC - Resources & Publications - Occasional Papers - Silence and Courage: Income Taxes, War and Mennonites 1940-1993
To cope with the demand, Congress passed the Revenue Act of 1861 which doubled customs taxes, reinstated excise taxes, and taxed personal incomes for the first time.
To increase public awareness and acceptance of the income tax, the Bureau of Internal Revenue "...used volunteer public speakers to persuade the American people that paying taxes was their patriotic duty to support the war effort.
In 1941, the Revenue Act lowered exemption levels, which included millions of Americans into the pool of those required to pay taxes for the first time.
www.mcc.org /respub/occasional/181.html   (6291 words)

  
 Income Tax 101   (Site not responding. Last check: 2007-10-18)
In 1964 the top rate was decreased to 70% (1964 Revenue Act), and then to 50% in 1981 (Economic Recovery Tax Act or ERTA).
The Tax Reform Act of 1986 reduced the top rate to 28%, at the same time raising the bottom rate from 11% to 15% (in fact 15% and 28% became the only two tax brackets).
In 2003 the JGTRRA, or Jobs and Growth Tax Relief Reconciliation Act, was passed, expanding the 10% tax bracket and accelerating some of the changes passed in the 2001 EGTRRA.
www.juiceenewsdaily.com /1004/news/income.html?1130474965468   (1035 words)

  
 Devonrue Home Page
However, since the exemplary 1986 reform, the tax code has drifted back to be overly complicated and burdened by higher marginal rates and by many special provisions that have undesirably narrowed the tax base.
Changes since the 1986 act have been largely incremental without the appropriate all-encompassing context that broad reform brings to the table.
August 14, 1935: The Social Security Act is signed into law, creating a Federal "Ponzi Scheme" whereby wealth is transferred to old people (whether they needed it or not) from young people and companies (whether they could afford it or not), each taxed at 1% on the first $3,000 of earnings.
www.devonrue.com   (1020 words)

  
 Abraham_Lincoln   (Site not responding. Last check: 2007-10-18)
However, he is most famous for his role in ending slavery in the United States with the enactment of the Emancipation Proclamation as a pragmatic war measure which would set the stage for the complete abolition of the institution.
At Lincoln's inauguration on March 4, 1861, the Turners formed Lincoln's bodyguard; and a sizable garrison of federal troops was also present, ready to protect the president and the capital from rebel invasion.
Perhaps Lincoln's most important contribution as President, outside of his military leadership as Commander-in-Chief, was his signing of the Homestead Act in 1862, though Lincoln had little do with the drafting of the act or its passage in Congress.
www.freecaviar.com /search.php?title=Abraham_Lincoln   (5535 words)

  
 2 more congressmen urge IRS probe [Free Republic]   (Site not responding. Last check: 2007-10-18)
Another revenue act was passed in 1918, which codified all existing income tax laws and taxed incomes of more than $1 million at a rate of 77 percent.
The Revenue Act of 1941 lowered exemption levels and increased taxes on excess profits being made on the war effort.
Additionally, the Act eliminated a number of wasteful, unproductive tax "shelters" and imposed a stiff new minimum tax to make sure that no profitable corporations or wealthy individuals escape paying their fair share of the tax burden.
www.freerepublic.com /forum/a37da8f8934e6.htm   (5380 words)

  
 Chapter 9: The Civil War, 1861
Before the end of 1861, however, officers were being required to prove their qualifications before examining boards; those found unfit were allowed to resign.
But in the spring of 1861, the anvil and hammer concept had not yet occurred to the military leaders in Washington.
With new Congressional acts regarding piracy, revenue, confiscation, and enforcement in hand, commanders of this motley fleet intercepted more and more swift blockade runners steaming out of Nassau, Bermuda, and Havana on their three-day run to Wilmington, North Carolina, Charleston, South Carolina, or Savannah, Georgia.
www.army.mil /cmh-pg/books/amh/AMH-09.htm   (7569 words)

  
 More on State Income Tax
The revenue was intended to help finance the war against France.
Income tax remains an annual tax, and is reimposed each year in the annual Finance Act.
The American federal income tax reaches all income from whatever source derived, including criminal enterprises; criminals who fail to report their income accurately have been successfully prosecuted for tax evasion.
www.eduhistory.com /state-income-tax.htm   (1331 words)

  
 Irwin's response to Evan Davis
The Revenue Act of 1861 contains the first income tax statute ever passed by Congress: it occupies four pages of that Act.
To my knowledge, this is the only book in the law literature that reproduces all three of these revenue statutes.
Also, all three of my witnesses testified that based upon their independent research they could find no law making them “liable” for income taxes, and you didn’t attempt to impeach their testimony in any way.
www.paynoincometax.com /irwins_response_to_evan_davis.htm   (3214 words)

  
 Encyclopedia: Revenue Act of 1861   (Site not responding. Last check: 2007-10-18)
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Updated 281 days 20 hours 51 minutes ago.
Rates under the Act were 3% on income above $800 (equivalent to $115,000 in 2002 dollars), and 5% on income of individuals living outside the U.S. Click for other authoritative sources for this topic (summarised at Factbites.com).
www.nationmaster.com /encyclopedia/Revenue-Act-of-1861   (100 words)

  
 5 Aug History: This Date
1861 As part of the Revenue Act of 1861, to finance the Civil War, the US Congress adopts the nation's first income tax.(3% of incomes over $800).
Although she was onscreen only briefly playing a mistress in both films, audiences took note of the blonde bombshell, and she won a new contract from Fox.
Her acting career took off in the early 1950s with performances in Love Nest (1951), Monkey Business (1952), and Niagara (1953).
www.jcanu.hpg.ig.com.br /history/h4aug/h4aug05.html   (7939 words)

  
 Foreign Relations of the United States - 1861
List of vessels built or building at the navy yards and under contract for the navy during the year 1861 (p.
List of old vessels that have been purchased and loaded with stone for the purpose of sinking and closing certain ports of the States in insurrction (p.
Statement of vessels seized, captured and destroyed by vessels in the naval service, 1861 (p.
www.wisc.edu /wendt/frus   (334 words)

  
 This Month in History, August
American Civil War — To pay for its cost of the war, the Union implemented and unconstitutional income tax as part of the Revenue Act of 1861 (3% of all incomes over US $800; rescinded in 1872).
Congress passed the Wilson-Gorman Tariff Act, which contained a provision for a graduated income tax that was later struck down by the Supreme Court.
World War II: — An atomic bomb code-named Little Boy was dropped by the American B-29 Enola Gay on the city of Hiroshima in Japan at 8:16 a.m., killing 80,000 outright (another 60,000 died by year's end from fallout sickness).
www.laughtergenealogy.com /bin/header/month08.html   (4555 words)

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