TRIVIA TODAY - Monday, April 15, 2013

Greetings Infomaniacs,

It's Tax Day in the U.S. and I thought it was fitting to share with you some interesting facts about income taxes. I hope you can enjoy them and aren't too stressed out finishing up your filing!

Enjoy!
Melissa

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TODAY'S MYSTERY QUOTE
QUOTE: "Certainty? In this world nothing is certain but death and taxes."

HINT: (1706-1790), writer, a philosopher, a scientist, a politician, a patriot, a Founding Father, an inventor, and publisher.


RANDOM TIDBITS
The federal form 1040 was introduced in 1913 and was required of US citizens and residents with a net income of $3,000 or over for the taxable year; nonresident aliens with income were also required to file.

The Social Security Act was signed into law by President Franklin D. Roosevelt in 1935, and Social Security numbers were made available the next year, 1936. However, taxpayers weren't required to use their Social Security number as a means of tax form identification until 1961.

The cost of war has often driven the push for taxes. The first United States income tax was imposed in July 1861 to help pay for the Civil War; the rate was just three percent of income over $800. That tax was eventually repealed and replaced by a tiered income tax in 1862. The income tax system we use today was made law in 1913, just before the start of World War I.

Federal income tax withholding as we know it today was made permanent in 1943 as part of the Current Tax Payment Act. The move was seen as a means of making tax payments and filings more convenient for taxpayers.

The "Presidential Campaign Fund" check-box was created in the 1970s in order to fund presidential elections. Since the inception of the check-off, over a billion dollars has been distributed to about a hundred primary election presidential candidates.

Regarded by some as the smartest man who ever lived, even Albert Einstein was no fan of figuring out his taxes, once remarking, "The hardest thing in the world to understand is the income tax."

(www.dailyfinance.com)


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TODAY'S MYSTERY QUOTE
QUOTE: "Certainty? In this world nothing is certain but death and taxes."

ANSWER: Benjamin Franklin.

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