Filing Taxes in 1947
Perhaps some of you are taking advantage of the April 18th deadline for filing your taxes this year. Consider yourself lucky.........Filing taxes back in 1947 came with a filing deadline of March 15th.
Filing taxes in 1947 was also simpler....I found this IRS leaflet from 1947 among some old paperwork of my husband's paternal grandparents while on a recent trip to Maui. It came folded in half. Inside is the Tax Table which you'll see tops out at $5000. According to the U.S. Census Bureau, the average family income in 1947 was $3000 with the average income of individuals at a whopping $1000.
In 1947, the IRS instructions regarding Tax-Exempt Income while filing taxes...."Do not include in your income any wholly exempt items, such as mustering-out pay, military pay of enlisted men, Government contributions to monthly family allowances, and social security benefits."
Hmmmmmmmmmmm.....I had to look up "mustering-out pay". I especially liked the idea of military pay of enlisted men being exempt (but of course, to make this politically correct, they need to change the word MEN to PERSONNEL.)
Speaking of filing taxes.......you've got a few more hours left to file. Just a little food for thought. Good Luck!
Filing taxes in 1947 was also simpler....I found this IRS leaflet from 1947 among some old paperwork of my husband's paternal grandparents while on a recent trip to Maui. It came folded in half. Inside is the Tax Table which you'll see tops out at $5000. According to the U.S. Census Bureau, the average family income in 1947 was $3000 with the average income of individuals at a whopping $1000.
In 1947, the IRS instructions regarding Tax-Exempt Income while filing taxes...."Do not include in your income any wholly exempt items, such as mustering-out pay, military pay of enlisted men, Government contributions to monthly family allowances, and social security benefits."
Hmmmmmmmmmmm.....I had to look up "mustering-out pay". I especially liked the idea of military pay of enlisted men being exempt (but of course, to make this politically correct, they need to change the word MEN to PERSONNEL.)
Speaking of filing taxes.......you've got a few more hours left to file. Just a little food for thought. Good Luck!
What a timely tax post! I love looking at old papers like that. Thanks for sharing, Pam!
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