Contact Info
Parminder Singh Ahuja
CPA PC
Certified Public Accountant
512-K East Randolph Road,
Silver Spring,
Maryland 20904.
Office: 301-879-0600
Fax: 301-879-2337
 
To My Clients
 
Updates for your Tax Software
 
 
 
Humor and History

Coming to the New World…….
When Hernando Cortes landed in the New World, he brought horses, soldiers – and his accountant. Recent historical research has highlighted Alonso De Avila, who kept the books for the Cortes army. As a reward for excellent service, he was made the first mayor of Veracruz, in what is now Mexico.


Which administration brought about the first federal income tax?

It was during the Lincoln administration in the middle of the Civil War that the first tax on income was levied by Congress -- in the Internal Revenue Act of 1862. The rates ranged from 3 to 5 percent. Congress eliminated the tax in 1872.

When did the federal income tax become a permanent institution?
It has been permanent since 1913, with the passage of the 16th Amendment. As established in that year, the bottom rate was 1 percent on taxable net income over $3,000 for an individual, $4,000 for a married couple. The top rate, for those making more than $500,000, was 7 percent.

The government that robs Peter to pay Paul can always depend on the support of Paul.
George Bernard Shaw

 
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