Taxes can be boring, but you’d be surprised at how interesting the subject is. We got such a great response from our previous blog that we decided to share even MORE interesting tax facts you may not have known about below.
- The word “tax” is from the Latin taxo, meaning “I estimate.”
- When Americans started paying annual federal income tax in 1913, they would save money in anticipation of paying a lump sum to the federal government. It wasn’t until WWII, when the government needed a more consistent stream of income to fund the war, that taxes started being withheld from paychecks.
- There is no known civilization that did not tax. Even the very first known civilization, the Sumerians, recorded their tax history on clay cones
- The first shots of the Civil War were fired at Fort Sumter, a Customs House.
- Over the entrance to the IRS building in Washington D.C. is a quote by Oliver Wendell Holmes: “Taxes are what we pay for a civilized society.”
- In 1787, U.S. citizens were eligible to vote only if they were taxpayers.
- According to one historian, plane geometry was not invented by Euclid but by ancient tax collectors who wanted to determine land size for harvest taxes.
- Cortez was able to defeat Montezuma largely because he incited a tax revolt among the peasants.
- In Britain, Lady Godiva made her famous au naturel ride as a tax protest.
- WWII led to the creation of the Bureau of Internal Revenue, which later became the Internal Revenue Service (IRS). The IRS is the world’s largest accounting and tax-collection organization.
Interesting stuff! With so many people paying taxes, the tax prep industry is booming. Be a part of a growing business by becoming a One Stop Tax Franchisee. Find out how you too can own a recession proof business today.
Facts courtesy of randomhistory.com
Tags: franchising, fun tax facts, tax prep Posted by