Abraham Lincoln is best known for his role as a wartime president, but his economic policies were a precursor to the New Deal. From railroad subsidies to a ...

A 3% tax was imposed on all annual incomes over $800. The purpose was to finance the Civil War. Generally, federal income tax is due on April 15 of every year. The day shifts to the following ...

President Abraham Lincoln first added a federal income tax with the Revenue Act of 1861 to help fund the Civil War. Taxes were based on assessments, not voluntary tax returns, and the dates they ...