by Danny Nelson | May 28, 2026 | Did You Know?
Did you know? In the 1920s, the IRS enforced Prohibition laws through its Prohibition Unit before the responsibility shifted to the Department of Justice. FB LI...
by Danny Nelson | May 27, 2026 | Did You Know?
Did you know? Required payroll tax withholding from employee wages began in 1943 with the Current Tax Payment Act, creating the modern “pay-as-you-go” system. FB LI...
by Danny Nelson | May 26, 2026 | Did You Know?
Did you know? The highest marginal tax rate in U.S. history was 94% in 1944 for incomes over $200,000 (which is about $3.8 million in today's dollars). FB LI...
by Danny Nelson | May 25, 2026 | Did You Know?
Did you know? Memorial Day was originally called Decoration Day because of the custom of decorating graves with flowers, wreaths, and flags. The name officially changed to Memorial Day in 1967. The first national observance occurred on May 30, 1868 at Arlington...
by Danny Nelson | May 24, 2026 | Did You Know?
Did you know? Churches (and other houses of worship including synagogues, mosques, temples, etc.) automatically qualify for federal income tax exemption under IRC Section 501(c)(3) if they meet basic requirements. No formal IRS application (Form 1023) is needed,...
by Danny Nelson | May 23, 2026 | Did You Know?
Did you know? The U.S. has a progressive income tax system with seven marginal brackets: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. For tax year 2026, the 37% top rate kicks in at taxable incomes above $640,600 (single) or $768,700 (married filing jointly). The 10%...
