FRINK Linked Data Fragments server

Matches in SemOpenAlex for { <https://semopenalex.org/work/W1523918555> ?p ?o ?g. }

• W1523918555 startingPage "111" @default.
• W1523918555 abstract "ABSTRACT The purpose of this paper is review and compare income tax legislation passed during the Civil War by both the Union and the Confederacy. The major tax act for the Confederacy was titled Act lay taxes for the common defense and carry on the Government of the Confederate States. This legislation was passed on April 24, 1863 and represented the most comprehensive tax system employed by the Confederacy. The most significant Union tax law was termed the National Tax Law as approved June 30, 1864. These two major pieces of legislation are compared and contrasted by examining the types of taxes introduced, rates of tax, and various deductions and exemptions allowed. This paper reviews the many aspects of Civil War taxation legislation that remain in effect today. Inparticular, numerous income inclusions, exclusions, and deductions found in these 1860's acts continue exist in our current Internal Revenue Code. These early pieces of tax legislation continue provide guidance in generating tax receipts fund our current war efforts in Afghanistan and Iraq. INTRODUCTION The Civil War created a desperate financial situation for both the Union and Confederate governments. The mere reinstatement of excise taxes would not be sufficient fund the war effort for either side. For this reason, new types of taxes, which were considered unnecessary in the past, were enacted into law. The major innovative tax of the period was the individual income tax. This tax was based on concepts that the typical taxpayer was not familiar with and did not readily understand including the principles of self-assessment and voluntary compliance. However, both the Union and Confederacy realized that a personal income tax was the only alternative that would produce the large amount of funds required fund military operations. The Union enacted tax legislation in 1861,1862, and 1864 with each version becoming more comprehensive in nature. When the Civil War began, Congress passed the Revenue Act of 1861 on August 5, which proved be a poor first attempt at tax legislation. The law reinstated excise taxes on various goods and also introduced a tax on personal incomes (U.S. Treasury Fact Sheet, OPC77). The income tax rate of 3% was applied income in excess of $800 per year (the exemption amount). This exclusion eliminated tax for all but the wealthy. For example, a private in the U.S. Army, during most of the Civil War, earned only $ 13 per month or under $200 per year, so he would pay no income taxes (Revised Regulations for the Army of the United States, 1861). Although the 1861 act committed the country income taxation, there were no income taxes actually assessed under this law (Hill, 1894). The 1861 income tax was never enforced or collected and was replaced by new legislation on July 1, 1862. The first major Internal Revenue Act in 1862 required taxpayers to make a list or return of the items of income that were being taxed (Doris, 1963). An Assistant Assessor, who had the right increase the amount of tax due for the year, audited the taxpayer in an effort add credence the system. The concept of a graduated or progressive tax was also strange taxpayers who were comfortable with fixed rate excise taxes. The new concepts of voluntary compliance, self-assessment, and progressive tax rates created a system that the typical taxpayer found difficult understand and comply with. During the spring of 1862, the Federal government's monetary needs were escalating as the public debt increased about two million dollars per day (Ibid). On July 1, 1862, the Revenue Act of 1862 was passed which included excise taxes on playing cards, gunpowder, feathers, telegrams, leather, pianos, yachts, billiard tables, perfumes, drugs, patent medicines, beer, and whiskey (U.S. Treasury Fact Sheet, OPC-77). This new act retained the personal income tax included in the 1861 law with some significant adjustments. …" @default.
• W1523918555 created "2016-06-24" @default.
• W1523918555 creator A5007015885 @default.
• W1523918555 creator A5018465730 @default.
• W1523918555 creator A5040882616 @default.
• W1523918555 date "2006-05-01" @default.
• W1523918555 modified "2023-09-24" @default.
• W1523918555 title "A Review of Civil War Tax Legislation and Its Influence on the Current U.S. Income Tax System" @default.
• W1523918555 hasPublicationYear "2006" @default.
• W1523918555 type Work @default.
• W1523918555 sameAs 1523918555 @default.
• W1523918555 citedByCount "0" @default.
• W1523918555 crossrefType "journal-article" @default.
• W1523918555 hasAuthorship W1523918555A5007015885 @default.
• W1523918555 hasAuthorship W1523918555A5018465730 @default.
• W1523918555 hasAuthorship W1523918555A5040882616 @default.
• W1523918555 hasConcept C100001284 @default.
• W1523918555 hasConcept C111326686 @default.
• W1523918555 hasConcept C113216237 @default.
• W1523918555 hasConcept C144133560 @default.
• W1523918555 hasConcept C162324750 @default.
• W1523918555 hasConcept C165786947 @default.
• W1523918555 hasConcept C17744445 @default.
• W1523918555 hasConcept C193681711 @default.
• W1523918555 hasConcept C199539241 @default.
• W1523918555 hasConcept C2776360696 @default.
• W1523918555 hasConcept C2777351106 @default.
• W1523918555 hasConcept C2778302417 @default.
• W1523918555 hasConcept C51303962 @default.
• W1523918555 hasConcept C514942387 @default.
• W1523918555 hasConcept C551662922 @default.
• W1523918555 hasConcept C55214782 @default.
• W1523918555 hasConcept C55674860 @default.
• W1523918555 hasConcept C74939039 @default.
• W1523918555 hasConceptScore W1523918555C100001284 @default.
• W1523918555 hasConceptScore W1523918555C111326686 @default.
• W1523918555 hasConceptScore W1523918555C113216237 @default.
• W1523918555 hasConceptScore W1523918555C144133560 @default.
• W1523918555 hasConceptScore W1523918555C162324750 @default.
• W1523918555 hasConceptScore W1523918555C165786947 @default.
• W1523918555 hasConceptScore W1523918555C17744445 @default.
• W1523918555 hasConceptScore W1523918555C193681711 @default.
• W1523918555 hasConceptScore W1523918555C199539241 @default.
• W1523918555 hasConceptScore W1523918555C2776360696 @default.
• W1523918555 hasConceptScore W1523918555C2777351106 @default.
• W1523918555 hasConceptScore W1523918555C2778302417 @default.
• W1523918555 hasConceptScore W1523918555C51303962 @default.
• W1523918555 hasConceptScore W1523918555C514942387 @default.
• W1523918555 hasConceptScore W1523918555C551662922 @default.
• W1523918555 hasConceptScore W1523918555C55214782 @default.
• W1523918555 hasConceptScore W1523918555C55674860 @default.
• W1523918555 hasConceptScore W1523918555C74939039 @default.
• W1523918555 hasIssue "2" @default.
• W1523918555 hasLocation W15239185551 @default.
• W1523918555 hasOpenAccess W1523918555 @default.
• W1523918555 hasPrimaryLocation W15239185551 @default.
• W1523918555 hasRelatedWork W1489776429 @default.
• W1523918555 hasRelatedWork W1494845083 @default.
• W1523918555 hasRelatedWork W1536236973 @default.
• W1523918555 hasRelatedWork W1539168534 @default.
• W1523918555 hasRelatedWork W1541232565 @default.
• W1523918555 hasRelatedWork W1830711817 @default.
• W1523918555 hasRelatedWork W2175087398 @default.
• W1523918555 hasRelatedWork W2311029837 @default.
• W1523918555 hasRelatedWork W2479424263 @default.
• W1523918555 hasRelatedWork W250537790 @default.
• W1523918555 hasRelatedWork W2603390540 @default.
• W1523918555 hasRelatedWork W266455569 @default.
• W1523918555 hasRelatedWork W277550786 @default.
• W1523918555 hasRelatedWork W3192159499 @default.
• W1523918555 hasRelatedWork W619020292 @default.
• W1523918555 hasRelatedWork W70302601 @default.
• W1523918555 hasRelatedWork W914009493 @default.
• W1523918555 hasRelatedWork W2295030066 @default.
• W1523918555 hasRelatedWork W2734224523 @default.
• W1523918555 hasRelatedWork W2915187280 @default.
• W1523918555 hasVolume "10" @default.
• W1523918555 isParatext "false" @default.
• W1523918555 isRetracted "false" @default.
• W1523918555 magId "1523918555" @default.
• W1523918555 workType "article" @default.