1. Which ancient civilization revered the tax professional as the most noble man in society?
2. How much do you think the tax on a gold watch was during the Civil War?
3. What was the top income tax rate during World War 1?
4. Which issue had the most lobbyists working on it in 1999?
5. What was the average annual income in 1913?
6. In all, about how many people do you think reported 078-05-1120 as their Social Security number?
7. The error rate for a paper return is 21 percent; what do you think the error rate is for an e-file return?
8. What is a duck stamp, and how much is it worth?
9. What items were first taxed as a luxury in 1898, at the start of the Spanish-American War, and continue to be taxed today?
The Tax Trivia Challenge Answers!
1. Greece. Although for the most part, taxes and taxation are often received with mixed emotions. Historically, taxes have been met with rebellion and unrest. French tax collectors were sent to the guillotine in 1789.
2. $1.50 – During the Civil War, the government placed taxes on all sorts of goods in order to generate revenue. Carriages, gold watches, musical instruments and pool tables are among some of the items taxed.
3. 77 percent – In 1913, Congress levied a 1% tax on net personal incomes above $3,000, with a 6% surtax on incomes above $500,000. As the nation sought greater revenue to finance the World War effort, the top rate of the income tax rose considerably.
4. Taxation – Lobbyists who work with the federal government are required to fill out forms identifying the issues that they support. In 1999, taxation and the IRS Code had almost 3,000 lobbyists working on it, serving 1,411 interest groups.
5. $800 annually – Back in 1913 tax rates ranged from 1%-7%.
6. 40,000 – In 1938, as part of a promotion to sell wallets through Woolworth and other stores, wallet manufacturer E.H. Ferree Co. wanted to demonstrate how a Social Security card would fit into its wallets and placed them inside. Many people confused the sample card with their own.
7. Half a percent (.5%)
8. Over $5,000 – The duck stamp is an actual stamp that was issued in 1934 to people over the age of 16 who wanted to hunt waterfowl and had to pay a tax of $1.
9. The telephone – Prior to the income tax, many taxes were placed on items that were considered a luxury.