The Federal Income Tax Explained: With the Regulations of the Treasury Department (Classic Reprint)

Excerpt from The Federal Income Tax Explained: With the Regulations of the Treasury Department

The Income Tax law, incorporated in the recent Act of Congress entitled An Act to reduce taxation, to provide revenue for the Government, and for other purposes, is new in certain of its clauses, especially in those relating to property acquired by gift and in heritance, and those relating to appeals and to corporations; but in other respects it retains the words, phrases, and clauses, which, in the income tax laws of the time Of the Civil War.

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