The United States Revenue Act of 1924 () (June 2, 1924), also known as the Mellon tax bill (after

U.S. Secretary of the Treasury The United States secretary of the treasury is the head of the United States Department of the Treasury, and is the chief financial officer of the federal government of the United States. The secretary of the treasury serves as the principal a ...

Andrew Mellon Andrew William Mellon (; March 24, 1855 – August 26, 1937), sometimes A. W. Mellon, was an American banker, businessman, industrialist, philanthropist, art collector, and politician. From the wealthy Mellon family of Pittsburgh, Pennsylva ...

) cut

federal Federal or foederal (archaic) may refer to: Politics General *Federal monarchy, a federation of monarchies *Federation, or ''Federal state'' (federal system), a type of government characterized by both a central (federal) government and states or ...

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 n ...

rates for 1924 income. The bottom rate, on income under $4,000, fell from 1.5% to 1.125% (both rates are after reduction by the "

earned income credit The United States federal earned income tax credit or earned income credit (EITC or EIC) is a refundable tax credit for low- to moderate-income working individuals and couples, particularly those with children. The amount of EITC benefit depends ...

"). The Act also: * Established the U.S. Board of Tax Appeals, which was later renamed the

United States Tax Court The United States Tax Court (in case citations, T.C.) is a federal trial court of record established by Congress under Article I of the U.S. Constitution, section 8 of which provides (in part) that the Congress has the power to "constitute Trib ...

in 1942. * Gave the chair of the

House Ways and Means Committee The Committee on Ways and Means is the chief tax-writing committee of the United States House of Representatives. The committee has jurisdiction over all taxation, tariffs, and other revenue-raising measures, as well as a number of other program ...

the power to obtain the records for any taxpayer, in response to the

Teapot Dome scandal The Teapot Dome scandal was a bribery scandal involving the administration of United States President Warren G. Harding from 1921 to 1923. Secretary of the Interior Albert Bacon Fall had leased Navy petroleum reserves at Teapot Dome in Wyomin ...

. What the Teapot Dome Scandal Has to Do With Trump’s Tax Returns
/ref> * Declared that there were no longer any "Indians, not taxed" to be not counted for purposes of

United States congressional apportionment United States congressional apportionment is the process by which seats in the United States House of Representatives are distributed among the 50 states according to the most recent decennial census mandated by the United States Constitution. ...

. A parallel act, the

Indian Citizenship Act of 1924 The Indian Citizenship Act of 1924, (, enacted June 2, 1924) was an Act of the United States Congress that granted US citizenship to the indigenous peoples of the United States. While the Fourteenth Amendment to the United States Constitution ...

(, Ch. 233 (1924)), granted all non-citizen resident Indians citizenship. President

Calvin Coolidge Calvin Coolidge (born John Calvin Coolidge Jr.; ; July 4, 1872January 5, 1933) was the 30th president of the United States from 1923 to 1929. Born in Vermont, Coolidge was a History of the Republican Party (United States), Republican lawyer ...

signed the bill into law. From 2019 to 2022, the law was the subject of a court battle that resulted in the Ways and Means Committee obtaining the

tax returns of Donald Trump Donald Trump, President of the United States from January 2017 to January 2021, has controversially refused to release his tax returns since his 2015–2016 presidential campaign at the 2016 election. Though Trump promised to release the retu ...

Tax levels

Both a normal tax and a surtax were levied against the net income of individuals, as shown in the following table: *Exemption of $1,000 for single filers and $2,500 for married couples and heads of family. A $400 exemption for each dependent under 18.

References

{{US_tax_acts United States federal taxation legislation 1924 in American law 1924 in the United States 68th United States Congress Presidency of Calvin Coolidge