Home     About Us    Contact Us     Contribute     Privacy
Investing
Stocks
Bonds
Mutual Funds
Biz
Credit
Career
College
Economics
Tax
More
 
 
Marketplace
Related Articles
More
Related Definitions
Related Categories
Tip of the Day

Tip of the Day Beware of Scams

Beware of Scams - You should always beware of scams, fraudulent practices, and these days, especially, there are plenty of them out there. Rule of thumb - if it...

read entire tip

Related Podcasts
Recently Added
Other Great Sites
 

Filing Tax Deadline

The deadline for filing federal income tax returns in the U.S. is midnight on the date of April 15 every year. Up until a few years ago, in every halfway large city in the country, you could see hordes of people attempting to fight their way into U.S. Postal Service buildings each April 15th as if there was a fire sale going on inside. Most of them wanted to be sure their income tax returns were postmarked prior to April 16. Traffic jams in those USPS parking lots frequently extended past midnight on the day in question.

In 1913 the 16th Amendment to the Constitution made the institution of mandatory income tax a fixture in the U.S. The amendment gave Congress legal authority to tax income and resulted in a revenue law that taxed individuals and corporations both. The fiscal year of 1918 saw those tax revenues exceed one billion dollars. What an enormous amount of money for those days. It might prove interesting to study the relationship between the first decade of income tax collection and U.S. participation in WW I. The very first federal income tax was levied to pay for the War Between the States.

In 1943 the withholding tax on wages came into being. Hmmm. What was the U.S. busy doing at the time? You guessed it. Taking part in WW II.

Humorously, in a bleak sort of way, tax acts signed in 2005 and 2006 were said to include incentives for individuals to save more for their retirement. This probably occurred at the same time retirement became an ever-receding date for most Americans without company pension plans or lucrative investments. Once it was an absolute given that women could retire at 62 and men at 65, with both beginning to collect Social Security benefits at those respective ages. Now it's become a question of whether we'll live long enough to retire at whatever increasingly distant age our government has decreed entitles us to collect our full benefits.

The Social Security Act was passed in 1935, during the Great Depression, to provide "compensation" to the unemployed, and to aid the needy, the elderly, the handicapped, and some minors. The 2 % tax was levied on the first $3000 of an employee's earnings. Half of it was paid by the employee and half by the employer.

Discuss It!

192.168.l.254 admin login said:

192.168.l.254 admin login

192.168.l.254 admin said:

192.168.l.254 admin

Security Service French Riviera said:

Thank you so much for sharing this great blog.Very inspiring and helpful too.Hope you continue to share more of your ideas.I will definitely love to read.

Best Over the Counter Phentermine Alternative said:

Only aspire to mention ones content can be as incredible. This clarity with your post is superb and that i may think youâre a guru for this issue. High-quality along with your concur permit me to to seize your current give to keep modified by using approaching blog post. Thanks a lot hundreds of along with you should go on the pleasurable get the job done.

SuperYacht Security Cannes said:

Interesting post. I Have Been wondering about this issue, so thanks for posting. Pretty cool post.It 's really very nice and Useful post.Thanks

Caniam Zenmily Blaster said:

This is a smart blog. I mean it. You have so much knowledge about this issue, and so much passion. You also know how to make people rally behind it, obviously from the responses.

mini militia god mod apk said:

Thanks for your insight for your fantastic posting. Iâm exhilarated I have taken the time to see this. It is not enough; I will visit your site every day.

ebony dating site said:

EbonyFlirt is the best dating site for ebony singles( ebony women, ebony men ) to find their perfect matches. It is free for ebony singles to join for ebony hookup or ebony dating. There are large number ebony people in this ebony dating site.

find said:

Rapidly this unique amazing online site will truly irrefutably come to be prominent among virtually all penning some blog page each gender, considering that persistent articles and other content not to mention opinions.

bbw singles said:

BBW singles in : bbwcouple.com This site is the leading bbw dating site with a lot of big women and big men http://www.bbwcouple.com/

Oslo said:

At the same time document gained upon your cyberspace diary still using curiosity just a little come near submits. Excellent way of capability, People are book-marking big butter jesus started stage look for styles explore spgs solution " up ".

Most Popular Articles
Most Popular Definitions
 
Daily Definition

Definition of the Day Return On Invested Capital

Return on Invested Capital - Return on Invested Capital is a non-financial measure that sets the general rule of thumb to help a company or corporation to see the progress or, lack of progress in their capital investment. The innate ability to generate a consistent cash flow coincides with the...

read entire definition

 
 

 

 

Home     About Us    Contact Us     Contribute     Sitemap

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright © 2009 TeenAnalyst.com