About Jim Floyd

Paying For The Civil War: Taxes, Internal Revenue, & Enrolled Agents

 

When Abraham Lincoln was inaugurated in 1862 as the 16th President of the United States he found himself the leader of a house divided and deeply in debt. To pay for the war, congress enacted several new laws to rapidly increase revenue. Legislation included imposing taxes and duties on goods, trades & occupations; implementing the first personal income tax; establishing the office of Commissioner of Internal Revenue; and giving the Department of the Treasury the ability to empower and regulate agents who represented war loss claimants. Period artifacts are displayed as we discuss how the acts passed during the civil war still influence income taxation today.

 

 

Jim Floyd, a resident of Indianapolis, IN, is an Enrolled Agent licensed by the U.S. Department of the Treasury to practice before the Internal Revenue Service. The descendant of seven civil war soldiers, Jim is a proud member of Sons of Union Veterans of the Civil War and Sons of Veterans Reserve. He earned his Bachelor of Fine Arts and Master of Education degrees from American Intercontinental University, and is commissioned as a Kentucky Colonel.