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How much federal income tax was collected in 2006?
2 trillion
Is the federal income tax proportional progressive or regressive?
The federal income tax is progressive A tax that charges more for higher incomes
How is the federal income tax a progressive tax?
The Federal income tax is a progressive tax because the more a person makes in revenue, the more tax they will have to pay. The tax level or percentage is higher for those with a higher income, too.
When was federal income tax initiated?
Income tax was instituted on July 01, 1913
When was the federal income tax ratified?
In the War of 1812, the U.S. first considered an income tax, but the war ended before the tax was officially created. But, during the American Civil War, the first U.S. income tax was created, but this one was meant only as a temporary measure to help pay for the war. It was repealed in 1872.
How much federal income tax was collected in 2006?
2 trillion
What is the order by which individuals have their federal income tax collected?
First Step Paycheck Withholding Tax Return Filling Tax Payment or Refund LAst Step <APEX>
By what process is federal income tax collected?
Believe it or not the federal income tax system is a voluntary system. The government relies on employers sending in employee withholdings, and taxpayers sending in estimated payments.
What federal tax was first put into effect during the civil war?
federal income tax
Percentage to pay in federal income tax?
You do not have a set percentage amount that each taxpayer would pay annually in taxes. The tax bracket percentage amounts change for each taxpayers amount of taxable income that they end up having to use to determine the correct amount of their federal income tax liability after the federal income tax return is completed correctly down to the line on the 1040 federal income tax return that says taxable income. Then you would know the amount of your federal income liability for the year and would be able to determine your percent that is being collected from you from your income for the tax year.
Under what circumstances was the first federal income tax levied?
the U.S. Congress adopted the first federal income tax in 1861 to help finance the Civil War.
Why was the first income tax made?
The first federal statutes imposing the legal obligation to pay a federal income tax were adopted by Congress in 1861 and 1862 to pay for the Civil War.
Who can take your federal income tax?
federal income tax people
How much federal income tax was collected in 2008?
Everything you want for this type of data and more:http://www.taxfoundation.org/taxdata/
Why was the 16th amendment important?
it allows the federal government to tax people income directly, "income tax".
The federal personal income tax is an example of which kind of tax?
The federal personal income tax is an example of progressive tax.
Who signed the first federal income tax law?
Abraham Lincoln signed the first Income Tax Law - 3% on incomes over $600.00
