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Revenue Act Of 1862The Revenue Act of 1862 was passed by the United States Congress during the Civil War. Income between $800 and $10,000 was taxed at a 3 percent rate. Higher income was taxed at a 5 percent rate. The income tax was to be withheld by the employer. A permanent tax collection agency and the office of the Commissioner of Internal Revenue were established. Inflation-adjusted numbers Corrected for inflation by CPI: | | 1862 dollars | | 2003 dollars | | $800 | align="right" | $14,550 | | $10,000 | align="right" | $181,871 |
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