WebApr 3, 2024 · Underwood-Simmons Tariff Act, also called Revenue Act of 1913, U.S. legislation enacted in October 1913 that lowered average tariff rates from about 40 percent to about 27 percent and reintroduced a federal income tax. The legislation, which fulfilled a key plank in Woodrow Wilson’s 1912 presidential campaign, is named after Alabama Rep. … WebJan 27, 2024 · Barton's Federal Tax Laws Correlated: The Federal Income, Estate, and Gift Tax Laws from the Revenue Act of 1913 to the Internal Revenue Code of 1954. KF6335.A3 B371 1968. (Available electronically via HeinOnline). This tool is a great resource for comparing pre-1939 acts with more recent laws.
The History of Capital Gains Taxes - realized1031.com
WebNov 22, 2013 · December 23, 1913. President Woodrow Wilson signed the Federal Reserve Act in December 1913, culminating three years of discussion and debate over the development of a central bank. With the nation confronting another financial crisis in 1907, and the United States the only one of the world’s major financial powers without a central … WebThe Revenue Act of 1913, also known as the Underwood Tariff or the Underwood-Simmons Act (ch. 16, 38 Stat. 114), re-established a federal income tax in the United States and … connectwise tampa office
Provisional Collection of Taxes Act 1968 - Legislation.gov.uk
WebAug 13, 2013 · An amendment to a tariff act in 1894 had attempted to do this, but since it was clearly unconstitutional, the Supreme Court struck it down. As a result – and mostly … The Revenue Act of 1913, also known as the Underwood Tariff or the Underwood-Simmons Act (ch. 16, 38 Stat. 114), re-established a federal income tax in the United States and substantially lowered tariff rates. The act was sponsored by Representative Oscar Underwood, passed by the 63rd United … See more Democrats had long seen high tariff rates as equivalent to unfair taxes on consumers, and tariff reduction was President Wilson's first priority upon taking office. He argued that the system of high tariffs "cuts us off … See more Tariffs The Revenue Act of 1913 reduced the average import tariff rates from approximately 40 percent to approximately 25 percent. The Act established the lowest rates since the See more • Allen, Howard W. (1961). "Geography and Politics: Voting on Reform Issues in the United States Senate, 1911–1916". Journal of Southern History. 27 (2): 216–228. doi:10.2307/2205279. JSTOR 2205279. • Clements, Kendrick A. (1992). The Presidency of Woodrow Wilson See more Working with progressive Republicans, Congressional Democrats won passage of the Revenue Act of 1916, which reinstated the federal estate tax, established a tax on the production of munitions, raised the top income tax rate to fifteen percent, and raised the corporate … See more WebDec 9, 2024 · The Revenue Act of 1913, also known as the Underwood Tariff or the Underwood-Simmons Act (ch. 16, 38 Stat. 114), re-established a federal income tax in the … edited collection of articles