The Individual Income Tax Act of 1944, Pub. L. No. 315, Ch. 210, 58 Stat. 231 (May 29, 1944), raised individual income tax rates in the United States[1] and repealed the 3% Victory Tax.[2]
The Act also amended section 22 of the Internal Revenue Code of 1939 to provide a definition for "adjusted gross income".[3]
It standardized the value of personal exemptions at $500 per person for those with adjusted gross income of $5,000 or more.[4]
The provisions of the Act were generally effective for tax years that began after December 31, 1943.[5]
individual, income, 1944, this, article, needs, additional, citations, verification, please, help, improve, this, article, adding, citations, reliable, sources, unsourced, material, challenged, removed, find, sources, news, newspapers, books, scholar, jstor, j. This article needs additional citations for verification Please help improve this article by adding citations to reliable sources Unsourced material may be challenged and removed Find sources Individual Income Tax Act of 1944 news newspapers books scholar JSTOR July 2013 Learn how and when to remove this template message The Individual Income Tax Act of 1944 Pub L No 315 Ch 210 58 Stat 231 May 29 1944 raised individual income tax rates in the United States 1 and repealed the 3 Victory Tax 2 The Act also amended section 22 of the Internal Revenue Code of 1939 to provide a definition for adjusted gross income 3 It standardized the value of personal exemptions at 500 per person for those with adjusted gross income of 5 000 or more 4 The provisions of the Act were generally effective for tax years that began after December 31 1943 5 References edit See generally Act sec 4 Act sec 6 a Act sec 8 Act sec 9 a Act sec 2 Retrieved from https en wikipedia org w index php title Individual Income Tax Act of 1944 amp oldid 1150197447, wikipedia, wiki, book, books, library,
