Taxes, as Benjamin Franklin once noted, are one of life's only two certainties, along with death. As tax day quickly approaches, I wanted to share some interesting facts about the IRS!
- This year, tax day falls on Monday, April 18th due to Leap Year.
- When it was first created, the IRS was referred to as the Bureau of Internal Revenue. In the 1950’s the identity was modified to the Internal Revenue Service.
- The preliminary revenue tax was originally 3% on people making over $800. Today the prime tax bracket consists of a 35% tax.
- The IRS was created by President Abraham Lincoln throughout the Civil War to assist pay for the army bills.
- The IRS sends out a mean 8,000,000,000 pieces of paper each tax season. If all of these pieces of paper were laid out end-to-end, it would wrap round the earth 28 times.