Archive for the 'Fincncial' Category
RECAPPING PAST NEWS EVENTS
IT’S TAX TIME!
Federal income tax was introduced with the Revenue Act of 1861 to help fund
the Civil War, and subsequently repealed, re-adopted, and held unconstitutional.
The early taxes were based on assessments, not voluntary tax returns. Tax
payment dates varied by act.
Since 1955, for those living in the United States, Tax Day has typically fallen on
April 15. For those filing a U.S. tax return but living outside the United States and
Puerto Rico, Tax Day has typically fallen on June 15, due to a two-month automatic
extension granted to filers by the IRS.
COIN AUTHORIZED ON THIS DAY IN 1875
The American twenty-cent piece
The father of the twenty-cent piece was Nevada Senator
John P. Jones and part-owner of the Crown Point Mine. He
introduced a bill to authorize a twenty- cent piece, one of his
first legislative endeavors. His proposal cited the lack of small
change in the West. It was endorsed by the Director of the mint
Linderman and other legislators went along with it, largely as a
favor to Sen. Jones. The bill was signed into law by President
Ulysses S. Grant on March 3, 1875. The coin was only used
for 3 years.
John Percival Jones
(January 27, 1829 – November 12, 1912)
AIR RECORD SET ON THIS DAY IN 1937
Howard Hughes with his record-setting Northrop Gamma
Howard Hughes set a transcontinental air record. He flew from Los Angeles,
California to Newark Airport in New Jersey. The West to East flight took 7
hours, 28 minutes and 25 seconds to complete.
Hughes climbs out of the Northrop Gamma at Newark, New Jersey.
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