Did you know that the U.S. income tax was first instituted in 1913?
I recently came across a copy of the very first IRS Income Tax Form 1040 our forefathers were required to file and wanted to share it with you.
But BEFORE I show you the rest of it, take a guess at the answers to these four questions:
- What percentage of taxable income do you think the average family paid back then?
- What was the top percentage paid by the very wealthiest Americans?
- How many pages long do you think that first tax return was?
- How many pages were the instructions needed to complete the form?