Celebrating 100 years of the income tax

Happy “Birth-month” Income Tax!

Check out the original October 3rd 1913 Form 1040: http://www.irs.gov/pub/irs-utl/1913.pdf

Everyone at Davis and Hodgdon Associates would like to pass along an invitation to celebrate the 100th anniversary of the federal income tax on October 3rd 2013! The United States Revenue Act of 1913 was signed into law by President Woodrow Wilson on October 3rd, 1913. All other efforts to establish a federal income tax had been deemed unconstitutional by the Supreme Court until this point. The Act created what is now known today as the federal income tax and was originally created as a way for the federal government to gain additional funds lost by the reduction of tariff duties. 

Even though the Act was signed into law on October 3rd it was the ratification of the 16th amendment on February 3rd 1913 by the 36th state (Delaware) that officially deemed a federal income tax constitutional (Vermont was the 40th). In October of 1913 (soon after the Act was signed into law) the very first Form 1040 was created and was only for income accumulated from March to December of 2013. Interestingly enough, Connecticut, Rhode Island, Utah, Virginia, Florida, and Pennsylvania, Alaska, and Hawaii still have not officially ratified The United States Revenue Act of 1913.

Davis & Hodgdon Associates has been assisting businesses and individuals in the Burlington Vermont Metro area for more than 20 years. If you have any questions or concerns please feel free to call 802.878.1963 or email [email protected].