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income tax

(Encyclopedia) income tax, assessment levied upon individual or corporate incomes. Although personal incomes were occasionally taxed in medieval Italian cities, the income tax is essentially a modern…

The Federal Income Tax

The Question: When did the people start paying federal income tax? The Answer: According to the History of the Income Tax in our almanac, the…

Federal Income Tax Comparisons

Taxes at Selected Rate Brackets After Standard Deductions and Personal Exemptions1 Adjustedgrossincome Single return listing no dependents…

History of the Income Tax in the United States

Source: Tax Foundation. The nation had few taxes in its early history. From 1791 to 1802, the United States government was supported by internal taxes on distilled spirits, carriages, refined…

Income Tax by Country, 2004

Country Single person without children One-earner family with two children Australia 24.3% 24.3% Austria 10.8 8.1 Belgium 26.6 15.2 Canada 17.8 13.…

Internal Revenue Service

(Encyclopedia) Internal Revenue Service (IRS), division of the U.S. Treasury Dept. that is responsible for the assessment and collection of most federal taxes, except those relating to alcohol,…

Desmarets, Nicolas

(Encyclopedia) Desmarets, Nicolas nēkôlä´ dāmärā´, 1648–1721, French statesman; the nephew of Jean Baptiste Colbert. He became director of finances in 1703 and succeeded Michel Chamillart as…

tax exemption

(Encyclopedia) tax exemption, immunity from the requirement of paying taxes. Federal, state, and usually local law provide exemption from taxation for a wide variety of organizations, usually not-for…