When you are dealing with the tax season, all of the information that comes into your head can be really stressful to try and deal with. So, that’s why you should look here and see some fun facts about taxes before you go back to the grind that comes with dealing with tax season every single year.
Did you know?
1. In 1952, Joseph Nunan was arrested and jailed for tax evasion. Why does that matter? He used to be the former commissioner of the IRS.
2. Taxes were not levied here in the United States between 1817 and 1861. What happened in 1861 that made the government need them again? The Civil War. When taxes started to be levied at this time, they were about 3% of your income. Now, the highest bracket pays over 30%.
3. The first e-file was in 1986, and it’s still a very popular means of filing taxes for many people.
4. The U.S tax code has over 7 million words. The Bible, which is considered to be a huge book by most peoples’ standards, is only 7 hundred thousand.
5. The Spanish American war was funded by taxes on items like chewing gum.
6. Illegal income is taxable. So are illegal substances in 23 states. The logic is, likely, that if we can’t get people to stop doing illegal things, we can tax them for doing those illegal things, right?
7. It’s estimated that there are twice as many tax preparers as there are police officers in the US.
8. In 1940, the instructions for a 1040 tax form had 2 pages. Now, there are almost 80 pages in those forms. That’s probably because there are over 7 million words in the tax code, as mentioned above.
9. Don’t buy playing cards in Alabama, or you’ll have to pay a 10 cent tax on those cards.
10. In Chicago, the way that they deal with taxing soda is a little strange and counterintuitive. You have to pay 9% tax on sodas that come from a soda fountain, but if it’s in a can or bottle, you only pay 3%.
11. The first income tax ever was in 1404 in England. Of course they thought of it first, because they were the toughest about it, which is why the whole Revolutionary War thing happened.
12. At the beginning of the French Revolution, tax collectors were sent to the guillotine because of their crimes against society.
13. Peter the Great (Russia) was a little tax happy. He taxed everything- from beards to boots, souls to shrimp, chimneys to clothing. As a result, Russia was pretty wealthy during the time he was in power.
14. Between 1996 and 2000, 61% of U.S. corporations didn’t pay income taxes, and there are so many tax breaks for corporations in today’s tax code that the amount that some corporations pay is minimal.
15. There are literally hundreds of different forms for taxes. One of the most interesting taxes is the one in Texas that is on alcohol used for fuel (Form 6478).