The war revenue bill was enacted in 1917. The war revenue bill funded the war, and greatly increased taxes against individuals and corporations to support the war.
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A bill was presented to congress called the Crittenden Plan which was a compromise to prevent war. However both sides were tired of compromise and the bill did not pass.
Britain had lost a lot of money due to the French and Indian War. By raising taxes in the colonies, Britain could gain money to pay off its debts.
Internal Revenue Service was created in 1953.
The $100 bill is worth a price close to $75. The amount may vary depending upon the condition of the bill.
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