Tax Timeline a Must-Read for Preparers

Posted by accountingweb on Oct 19 2000 75 printer friendly

Fortune magazine has put together an insightful look at 75 years of Taxation 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!

Voice of the Editor

Even though any accounting auditor would tell you it seems like there are an awful lot of tax accountants out there, surely one-third of the country isn't made up of tax preparers, so it's rather startling news to learn that one-third of Americans like to do their taxes. Who knew?

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