Tax form from 1913
POSTED: Friday, April 16, 2010 - 8:47pm
UPDATED: Thursday, April 22, 2010 - 1:25am
TYLER - The 1040 tax form was created in 1913 to tax people who made three thousand dollars or more in a year's time.
Instructions for filing this form were only one page long.
Now the instructions for the 1040 form are just over one hundred pages long!
Plus there are nearly five hundred different kinds of tax forms offered by the I.R.S. today.
The number of pages isn't the only difference. The way people were taxed and the amount they were taxed is far different now.
"The highest tax bracket was six percent for someone who earned more than half a million dollars. Our lowest tax bracket right now is ten percent, and the highest is going to be thirty-eight percent," Maureen Parkhill says.