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Wednesday, March 28, 2018

Greetings Infomaniacs,

I hope everyone is having success with getting taxes done. I am hoping for a small return this year so I am trying to get mine done early.

I read an article that a humorist once proposed simplifying taxes into three easy steps: A) How much money did you make last year? B) How much to you have left? C) Send B!

I hope that you have better success with your taxes this year and actually receive refunds rather than having to hand over more of your hard-earned money to Uncle Sam!

Enjoy!

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WHO SAID IT?

QUOTE: "The hardest thing in the world to understand is the income tax."

HINT: (1879-1955), German-born theoretical physicist, developed the general theory of relativity.

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RANDOM TIDBITS

The Gettysburg Address was 269 words. The Declaration of Independence is 1,337 words. Versions of the Bible range from 750,000 to 775,000 words. According to Forbes.com, the U.S. Tax Code is about four million words, "just under four times the number of words in all of the Harry Potter books put together."

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Roots of the personal income tax and the Internal Revenue Service go back to the Civil War. President Abraham Lincoln and Congress in 1862 created the first income tax to help pay for the war. It was repealed in 1872. Congress revived the income tax in 1894, but the Supreme Court ruled it unconstitutional in 1895.

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The 16th Amendment authorizing the income tax was adopted Feb. 3, 1913, when Delaware, Wyoming and New Mexico voted to ratify it, putting the amendment over the required 36-state threshold. Four states rejected the amendment. And two other states never considered it, Florida was one of them.

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The primary filing form has always been Form 1040. It comes from a four-digit numbering system in 1913 when the first income tax forms were created; the numbers started with 1,001. By the time this particular form was finished, 39 others had been completed already.

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President Gerald Ford was the first modern-day president to publicly release a summary of his income tax returns; every president since then has released their personal returns. President and Mrs. Obama's return for 2012 showed an adjusted gross income of $608,611, itemized deductions of $258,385 and a refund of $16,815.

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The filing deadline for 1913 taxes was March 1. In 1918, the deadline date was changed to March 15. In 1955 Tax Day was changed to April 15.




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*** Weekly Mind-Scrambler ***

Name a seven letter word, from which if you take out four letters, you will have one left?

Submit your answer by clicking: TheDailyTease

Answer will be posted in Friday's Trivia Today. Good Luck! If your name appears in Friday's newsletter, EMAIL MICHELE your complete name and address to be shipped your prize.

Be sure to put "Winner" in the subject line.

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WHO SAID IT?

QUOTE: "The hardest thing in the world to understand is the income tax."

ANSWER: Albert Einstein.

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