The first federal income tax was passed in 1861. When the next one was passed and why

Question:

The first federal income tax was passed in 1861. When the next one was passed and why was it necessary?
Why pay-as-you-go withholding was needed in 1943?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles Of Taxation For Business And Investment Planning 2016 Edition

ISBN: 9781259549250

19th Edition

Authors: Sally Jones, Shelley Rhoades Catanach

See More Books

Question Posted: Mar 05, 2018 10:53 AM

See More Questions

In 2014, NB Inc.s federal income tax was $242,000. Compute the required installment payments of 2015 tax in each of the following cases: a. NBs 2015 taxable income is $593,000. b. NBs 2015 taxable...
Martin S. Albert (Social Security number 111-11-1111) is 39 years old and is married to Michele R. Albert (Social Security number 123-45-6789). The Alberts live at 512 Ferry Road, Newport News, VA...
Martin S. Albert (Social Security number 111-11-1111) is 39 years old and is married to Michele R. Albert (Social Security number 123-45-6789). The Alberts live at 512 Ferry Road, Newport News, VA...
A beam of light enters the end of an optic fiber as shown in Fig. 23-52. Show that we can guarantee total internal reflection at the side surface of the material (at point a), if the index of...
We have simplified things here by separating friction (Sec. 9.7) from heat addition (Sec. 9.8). Actually, they often occur together, and their effects must be evaluated simultaneously. Show that, for...
Healthwise Medical Supplies Company is located at 2400 Second Street, City, ST 12345. The company is a general partnership that uses the calendar year and accrual basis for both book and tax...
Explain the process of posting in each of the following cases: (a) Purchase Day Book to Ledger (b) Sales Day Book to Ledger (c) Purchase Returns Book to Ledger (d) Sales Returns Book to Ledger
Longworth Manufacturing has two producing departments, machining and assembly, and two service departments, personnel and custodial. The companys budget for April 20X1 is as follows: Longworth...
For the 2022 tax year, Rick is a 45 year old single taxpayer in good health with no dependents. He has calculated an AGI of $65000 and taxable income of $51700. From this information we can make the...
The trial balance of Pacilio Security Services Inc. as of January 1, 2013 had the following normal balances: Cash ..............$8,900 Accounts Receivable ......... 1,500 Supplies .............. 65...
The Final Project will involve applying the concepts learned in class to an analysis of a company using data from its annual report. Using the concepts from this course, you will analyze the...
Which party should request a letter regarding litigation, claims, and assessments from the client's attorney? A. Attorney B. Auditors C. Client D. Securities and exchange commission or other...
Suppose your boss asked you to summarize the major people-related concerns in opening an office in China. What issues would be on your list?
You are expected to suggest several functional tactics and how these short-term activities are used to achieve short term objectives and establish a competitive advantage. Within the general...
Carbon dioxide and nitrogen experience equimolar counterdiffusion in a circular tube whose length and diameter are 1m and 50mm, respectively. The system is at a total pressure of 1 atm and a...
A licensee recently was placed on court - ordered probation. Does the licensee have to report this to the Board?
1. Technology and Operations What task does the operations function in a manufacturing organisation and in a service organisation perform? How does operations strategy contribute to make to corporate...
Do the Following current market analysis - geographic , psychographic and behavioral of Klean Kanteen THIS IS THE DETAILS AND DRAFTS OF PAPER. (THIS IS THE BASIS) Open the link;...
In Exercises 3948, find the term indicated in each expansion. (x 3 + y 2 ) 8 ; sixth term
What are the main distinctions between the different schools of legal interpretation?
Identify the following aminoacids: (a) (b) (c)
Give the sequence of the following tetra peptide (yellow =S):
Isoleucine and threonine are the only two amino acids with two chirality centers. Assign R or S configuration to the methyl-bearing carbon atom ofisoleucine.
When credit terms for a sale are 2/15, n/40, the customer saves by paying early. What percent (rounded) would this savings amount to on an annual basis
An industrial robot that is depreciated by the MACRS method has B = $60,000 and a 5-year depreciable life. If the depreciation charge in year 3 is $8,640, the salvage value that was used in the...
What determines a firm's beta? Should firm management make changes to its beta? Be sure to consider the implications for the firm's investors using CAPM.

The first federal income tax was passed in 1861. When the next one was passed and why

Question:

Step by Step Answer:

In 1894 was passed the second income tax The purpose of the income ...View the full answer

Principles Of Taxation For Business And Investment Planning 2016 Edition

Students also viewed these Corporate Finance questions