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A Brief History of Income Taxes

Updated for Tax Year 2020 / May 3, 2021 09:44 PM

OVERVIEW

Did you know President Abraham Lincoln, one of America's most beloved leaders, also instituted one of its least liked obligations—the income tax? In this brief history of taxes, see the historical events which shaped income taxes in the United States today.

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The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business.