As you figure out how much you owe in federal income taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. (two weeks to go!), it might be interesting to see what it would have been in 1913, the first year of the income tax. This website has a handy calculator allowing you to do just that!
It’ll probably be lower; the top income tax rate that year was just 7 percent.
You can check out the four pages that were the 1040 form and instructions back then. Just don’t use it for your tax form this year.Share