This Day In History - Income Tax Implemented in US 1861

Income Tax Implemented in US 1861

Saturday, August 5, 2023

All Day

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Event Description

On this day in 1861, Lincoln imposes the first federal incometax by signing the Revenue Act. Strapped for cash with which to pursue theCivil War, Lincoln and Congress agreed to impose a 3 percent tax on annual incomes over $800.

Event Location

US Nationwide