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Gnucash 2.4 Small Business Accounting by Ashok Ramachandran

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Chapter 8. Making Tax Times Less Stressful

"In 1862, in order to support the Civil War effort, Congress enacted the nation's first income tax law. It was a forerunner of our modern income tax in that it was based on the principles of graduated or progressive taxation and of withholding income at the source." history of the income tax in the United States.

You may not jump for joy but, at least, it may make you feel somewhat better to know that taxes on income and sales are not of recent origin and there is plenty of evidence to show that they existed in some form or the other even in ancient times.

According to the literature of the Sangam period (circa 200 BC to 200 AD), the kings of southern India had an eight member council to administer the ...

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