Early 20th Century
30 entries
16th Amendment
The 16th Amendment to the US Constitution, ratified in 1913, gave Congress the power to lay and coll...
Federal Reserve Act
The Federal Reserve Act of 1913 created the central banking system of the United States. While not a...
Al Capone Tax Evasion
Al Capone was Americas most notorious gangster, running a vast criminal empire in Chicago during Pro...
Swiss Bank Secrecy
The Swiss Banking Law of 1934 made it a criminal offense to reveal bank client information. This sec...
Tax Haven Bermuda
Bermuda has no corporate income tax, no capital gains tax, and no withholding tax. This makes it one...
Haig Simons Income
The Haig Simons definition of income, developed by economists Robert Murray Haig and Henry C Simons ...
Estate Tax US
The US federal estate tax was enacted in 1916. The tax is levied on the transfer of property at deat...
Capital Gains Tax History
The US capital gains tax was established in 1921, setting preferential rates for long term capital g...
Corporate Tax History
The US corporate income tax was enacted in 1909 as a 1 percent excise tax on corporate income. The t...
Sales Tax USA
Sales taxes in the United States are imposed by state and local governments. The first state sales t...
Tax Treaty Network
Tax treaties, also called double taxation agreements, prevent the same income from being taxed by tw...
Transfer Pricing Rules
Transfer pricing is the setting of prices for transactions between related parties within a multinat...
Tax Filers Season
The US tax filing season runs from January to April 15 each year. Approximately 160 million individu...
FICA Payroll Tax
FICA, the Federal Insurance Contributions Act tax, funds Social Security and Medicare. The Social Se...
State Income Tax
State income taxes vary dramatically across the United States. Wisconsin was the first state to impl...
Smoot Hawley Tariff
The Smoot Hawley Tariff Act of 1930 raised US tariffs to their highest levels in history. The averag...
Inflation Tax
Inflation acts as a hidden tax. When governments print money, the resulting inflation reduces the pu...
Pigouvian Tax
A Pigouvian tax, named after economist Arthur Pigou, is a tax on activities that generate negative e...
Tax Compliance Burden
Tax compliance burden refers to the time and money spent by taxpayers to comply with tax laws. In th...
Oliver Wendell Holmes Tax
Supreme Court Justice Oliver Wendell Holmes Jr wrote in Compania General de Tabacos v Collector of I...
Tax Court History
The United States Tax Court was established in 1942 as a replacement for the Board of Tax Appeals, w...
Tax Haven Panama
Panama has been a tax haven since it began registering ships in 1919. The Panama Canal made Panama a...
Tax Treaty Netherlands Suriname
One of the oldest tax treaties still in force is between the Netherlands and its former colony Surin...
Gift Tax History
The US gift tax was enacted in 1924 to prevent taxpayers from avoiding the estate tax by giving away...
Tax Withholding System
The US tax withholding system was introduced by the Current Tax Payment Act of 1943. Before withhold...
Form 1040 History
Form 1040 is the standard US individual income tax return. The first Form 1040 was introduced in 191...
Tax haven Luxembourg Detail
Luxembourgs tax haven status dates to the 1929 holding company regime, which exempted holding compan...
Haig Simmons Definition Detail
The Haig Simons definition of income provides the theoretical benchmark for comprehensive income tax...
Inheritance Tax Japan
Japan has the highest inheritance tax rate in the world, with a top marginal rate of 55 percent on l...
Inheritance Tax USA Debate
The US estate tax, nicknamed the death tax by opponents, has been politically contentious since its ...