Tax Timeline a Must-Read for Preparers
Posted by accountingweb on
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Fortune [1] magazine has put together an insightful look at 75 years of Taxation [2] with a new timeline.
Beginning with the Revenue Act of 1926 and ending with Treasury Secretary Lawrence Summers' crackdown on corporate tax shelters in 2000, the timeline puts all taxation highlights in order and with brief descriptions.
A chart of tax revenue collected also is included; in 1930, the figure was $3 million, compared to almost $2 billion in 2000!