Profile America — Monday, April 16th. Debate about income tax rates ebbs and flows through the years, but has been especially heated during this presidential election year. Federal income taxes have been around since 1913, when the 16th Amendment to the Constitution gave Congress the right to levy such taxes. The first year, fewer than 360,000 returns were filed. Now, some 142.5 million returns are submitted annually. For those who don't like to compute their own taxes, there are nearly 112,000 tax preparation offices around the nation. Of these, close to 87,000 are single person businesses. We spend nearly $7 billion a year to have our taxes prepared. You can find these and more facts about America from the U.S. Census Bureau, online at www.census.gov.
Sources: Chase's Calendar of Events 2012, p. 220 Historical Statistics of the United States: Colonial Times to 1970, p. 1110 Statistical Abstract of the United States 2012, t. 488 2007 Economic Census, NAICS 541213
Profile America is produced by the Public Information Office of the U.S. Census Bureau. These daily features are available as produced segments, ready to air, on a monthly CD or on the Internet at http://www.census.gov (look for "Multimedia Gallery" by the "Newsroom" button).