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  2. Tax - Wikipedia

    en.wikipedia.org/wiki/Tax

    A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or national), and tax compliance refers to policy actions and individual behaviour aimed at ensuring that taxpayers are paying the right amount of tax at the ...

  3. Form 1040 - Wikipedia

    en.wikipedia.org/wiki/Form_1040

    In other words, people with net incomes below $3,000 would have to pay no income tax at all. The inflation calculator used by the Bureau of Labor Statistics estimates the corresponding amount in 2015 dollars as $71,920. The base income tax rate on taxable income was 1%. High earners had to pay additional taxes.