1970
1971
1973
1974
1975
1976
1977
1978
AICPA publishes the first issue of
Texas Instruments introduces the SR-10 pocket calculator.
First female contributor to
ERISA establishes pension plan standards to protect participants and their beneficiaries.
Employee Retirement Income Security Act passes.
AICPA recommends postmarked date on materials sent to the IRS should be the deemed date of delivery or payment.
The Tax Reform Act of 1976 passes.
Apple Computer introduces the Apple II, one of the first successful home computers.
The act reduces the number of tax brackets, lowers the corporate tax rate and eliminates the nonbusiness deduction for gasoline taxes.
The Revenue Act of 1978 passes.
50 years of The Tax Adviser
Taxes may be one of life’s great certainties, but tax laws themselves shift with the times.
1980s
1990s
2000s
2010s
1970s
1970s
1970
70
%
Top marginal tax rate
for individuals
AICPA publishes the first issue of
Boeing 747 makes first commercial flight.
Launched to be a professional and authoritative tax magazine published for CPAs covering federal and state tax developments in depth.
1980s
1971
Revenue Act of 1971 passes.
The act reinstates the investment tax credit and replaces ¾-year depreciation with 2-year depreciation.
1976
Launch of the Concorde
The Tax Reform Act of
1976 passes.
The act expands the minimum tax and increases the long-term capital gain holding period.
Bicentennial of the Declaration of Independence
First female contributor to
Marianne Burge, a manager with Price Waterhouse & Co., becomes the first female contributor to
1973
Texas Instruments introduces the SR-10 pocket calculator with scientific notation.
OPEC oil embargo
Skyrocketing oil prices and national fuel shortages leave many drivers stranded
on the road.
It's all about the postmark.
1980
3M begins sales of Post-it Notes.
1988
Compact disks outsell vinyl
records for the first time.
1989
Motorola introduces MicroTAC,
the first flip phone.
1983
Number of AICPA members: 201,764.
1987
Black Monday.
1982
The Tax Equity and Fiscal Responsibility
Act passes.
1985
Microsoft releases the first version of Excel (for the Mac).
1986
Tax Reform Act of 1986 passes.
1990s
1970s
1982
50
%
Top marginal tax rate for individuals
The Tax Equity and Fiscal Responsibility Act passes.
It introduces partnership audit
regime and increases the Federal Unemployment Tax Act (FUTA)
tax rate and wage base.
First version of Microsoft
Word released.
AICPA Tax Section founded.
1986
First best article award.
Tax Reform Act of
1986 passes.
With the aim of simplifying the Internal Revenue Code, the act lowers individual and corporate tax rates and broadens the tax base. Changes include the repeal of the investment tax credit and the introduction of the low-income housing credit.
1987
38.5
%
Top marginal tax rate for individuals
Black Monday
The Dow Jones drops 500 points, losing 22% of its value.
undergoes its first redesign in 17 years.
It features a new logo and
more readable design.
1988
28
%
Top marginal tax rate for individuals
The Family Security Act of 1988 requires TINs
for dependents.
Compact disks outsell vinyl records for the first time.
1989
Motorola introduces MicroTAC,
the first flip phone.
The Berlin Wall falls.
1980s
1996
The Taxpayer Bill of Rights 2 is passed, creating the Taxpayer Advocate Service.
The Health Insurance Portability and Accountability Act passes.
Establishes medical savings accounts and allows penalty-free IRA withdrawals for health care expenses.
1997
At 21, golfer Tiger Woods becomes youngest player to win the Masters.
undergoes a redesign and launches a webpage.
The Taxpayer Relief
Act of 1997 passes.
Introduces the child tax credit and education credits, reduces capital gains rates, and repeals AMT for small businesses.
1998
undergoes its second redesign in two years.
Improving the page layout and reorganizing the cover.
The IRS Restructuring and Reform Act of 1998 passes.
Leading to the biggest restructuring of the Internal Revenue Service in 40 years and the creation of the IRS Oversight Board.
2000s
1980s
1990
Cost of a McDonald’s
Big Mac: $2.20.
1991
Top marginal tax rate for individuals is 31%.
1993
Top marginal tax rate for individuals is 39.6%.
1994
Amazon and Yahoo both launch.
1996
The Health Insurance Portability and Accountability Act passes.
1997
Taxpayer Relief Act of 1997.
1998
undergoes its second
redesign in two years.
1990s
2001
39.1
%
Top marginal tax rate for individuals
The dot-com bubble bursts.
The Economic Growth and Tax Relief Reconciliation Act of 2001 passes.
EGTRRA reduces individual tax rates, increases the child tax credit, and child and dependent care tax credit, and phases out estate and gift taxes.
2002
38.6
%
Top marginal tax rate for individuals
Electronic signatures are allowed on e-filed tax returns.
2003
35
%
Top marginal tax rate for individuals
The Jobs and Growth Tax Relief Reconciliation Act passes.
Accelerates EGTRRA provisions, lowers capital gains and dividends taxes, and increases bonus depreciation and Sec. 179 expensing.
2004
Facebook is founded.
New computerized Uniform CPA examination replaces paper version of the test.
2006
The verb “Google” is added to the Oxford English Dictionary.
The Tax Relief and Health Care Act creates Health Savings Accounts (HSAs).
The Pension Protection
Act passes.
Makes EGTRRA IRA provisions permanent, makes saver’s credit permanent, and allows tax-free charitable distributions from IRAs by taxpayers over 70½.
2009
publishes annual
tax software survey, formerly conducted
by the Journal of Accountancy. Readers give their feedback on the tax prep. packages they used that filing season.
Twitter
feed starts, alerting followers to breaking tax developments.
2000
Despite Y2K hysteria, the bug fails to make an impact.
2007
Apple releases the iPhone.
2008
is redesigned to
reintroduce artwork on the cover
and cleaner pages.
2002
Electronic signatures are allowed
on e-filed tax returns.
2006
The verb “Google” is added to the Oxford English Dictionary.
2001
The dot-com bubble bursts.
2003
The Jobs and Growth Tax Relief Reconciliation Act passes.
2004
New computerized Uniform CPA examination replaces paper version of the test.
2009
joins Twitter.
2000s
2010s
1990s
2010
PTIN fees introduced.
IRS starts charging tax return preparers a fee to obtain and renew preparer tax identification numbers.
The Patient Protection and Affordable Care Act passes.
Together with the Health Care and Education Reconciliation Act, ACA enacts sweeping health care reform. New provisions include an “individual mandate” penalty for failure to maintain minimum essential health coverage, an increase on the floor for medical expense itemized deductions, a small business tax credit, and a penalty for large employers who do not offer affordable minimum essential coverage.
2011
Most popular article
“S Corporation Shareholder Compensation: How Much Is Enough?”
The Leahy-Smith America Invents Act passes enacting AICPA-supported tax strategy patent legislation.
2012
The IRS requires return preparers of 11 or more returns to e-file.
Number of AICPA members nearly
380,000
2013
Most popular article: “Using the First-Time Penalty Abatement Waiver.”
Top marginal tax rate
for individuals:
39.6
%.
2015
TheTaxAdviser
2017
The Tax Cuts and Jobs Act is enacted.
The act is the largest overhaul of the tax code in three decades. In addition to increasing the standard deduction, the act eliminates personal exemptions, introduces qualified business income deductions, repeals miscellaneous itemized deductions, and doubles estate and gift tax exemptions.
2018
Most popular article: “Understanding the New Sec. 199A Business Income Deduction.”
37
%
Top marginal tax rate
for individuals
2019
Most popular article: “The Marriage Tax Penalty
Post-TCJA”
The IRS clarifies that business meals generally continue to be 50% deductible, as AICPA recommended.
2010
PTIN fees introduced.
2011
The Leahy-Smith America Invents Act passes.
2012
The AICPA celebrates its 125th anniversary.
2013
Top marginal tax rate for individuals in 39.6%.
2014
is redesigned with new fonts, layout and a redesigned cover.
2015
TheTaxAdviser
2016
Most popular article: “Next Filing Season Will Be Better: Due Dates Have a New Logical Order.”
2017
The Tax Cuts and Jobs Act is enacted.
2018
Most popular article: “Understanding the New Sec. 199A Business Income Deduction.”
2019
The IRS clarifies that business
meals generally continue to be 50% deductible, as AICPA
recommended.
2010s
1970s
2000s
1983
Number of AICPA members: 201,764.
1990
E-filing goes live, resulting in 4.2 million e-filed tax returns.
Cost of a McDonald’s
Big Mac: $2.20.
1991
The World Wide Web debuts.
31
%
Top marginal tax rate for individuals
The Tax Adviser
The Tax Adviser
The Tax Adviser
Tax Adviser
Tax Adviser
The Tax Adviser
Tax Adviser
Tax Adviser
Tax Adviser
Tax Adviser
The Tax Adviser.
The Tax Adviser.
The Tax Adviser
The Tax Adviser.
The Tax Adviser.
The Tax Adviser
The Tax Adviser
The Tax Adviser
Tax Adviser
.com launches.
.com
launches.
Journal of Accountancy
The AICPA celebrates its 125th anniversary.
SECURE Act makes significant changes to retirement plans and IRAs.
2012
2019
2015
In the Tax Software Survey, 63% of respondents report that one or more of their clients had been victimized by tax-identity theft this year.
1980s
1990s
2000s
2010s
1990s
1970s
2000s
1980s
2010s
1990s
launches.
AICPA recommends postmarked date on materials sent to the IRS should be the deemed date of delivery or payment.
The act reduces the number of tax brackets, lowers the corporate tax rate and eliminates the nonbusiness deduction for gasoline taxes.
1970s
2000s
1973
Texas Instruments introduces the SR-10 pocket calculator with scientific notation.
OPEC oil embargo
Skyrocketing oil prices and national fuel shortages leave many drivers stranded on the road.
The Tax Reform Act
of 1976 passes.
The act expands the minimum tax and increases the long-term capital gain holding period.
Bicentennial of the Declaration of Independence
Launch of the Concorde
AICPA publishes the first issue of
Launched to be a professional and authoritative tax magazine published for CPAs covering federal and state tax developments in depth.
Boeing 747 makes first commercial flight.
Top marginal tax rate
for individuals
The Tax Equity and Fiscal Responsibility Act passes.
It introduces partnership audit
regime and increases the Federal Unemployment Tax Act (FUTA)
tax rate and wage base.
Top marginal tax rate
for individuals
50
%
AICPA Tax Section founded.
First version of Microsoft
Word released.
Number of AICPA members: 201,764.
First best article award.
Tax Reform Act of
1986 passes.
With the aim of simplifying the Internal Revenue Code, the act lowers individual and corporate tax rates and broadens the tax base. Changes include the repeal of the investment tax credit and the introduction of the low-income housing credit.
Tax Adviser
Black Monday
The Dow Jones drops 500 points, losing 22% of its value.
Top marginal tax rate
for individuals
38.5
%
undergoes its first redesign in 17 years.
It features a new logo and more readable design.
The Tax Adviser
The Family Security Act of 1988 requires TINs
for dependents.
Compact disks outsell vinyl records for the first time.
Top marginal tax rate
for individuals
28
%
The Berlin Wall falls.
Motorola introduces MicroTAC,
the first flip phone.
Cost of a McDonald’s
Big Mac: $2.20.
E-filing goes live, resulting in 4.2 million e-filed tax returns.
The World Wide Web debuts.
Top marginal tax rate
for individuals
31
%
1991
The Taxpayer Bill of Rights 2 is passed, creating the Taxpayer Advocate Service.
The Health Insurance Portability and Accountability Act passes.
The act reinstates the investment tax credit and replaces ¾-year depreciation with 2-year depreciation.
The Taxpayer Relief
Act of 1997 passes.
Introduces the child tax credit and education credits, reduces capital gains rates, and repeals AMT for small businesses.
At 21, golfer Tiger Woods becomes youngest player to win the Masters.
The IRS Restructuring and Reform Act of 1998 passes.
Leading to the biggest restructuring of the Internal Revenue Service in 40 years and the creation of the IRS Oversight Board.
undergoes its first redesign in 2 years
The Tax Adviser
Improving the page layout and reorganizing the cover.
The dot-com bubble bursts.
The Economic Growth and Tax Relief Reconciliation Act of 2001 passes.
EGTRRA reduces individual tax rates, increases the child tax credit, and child and dependent care tax credit, and phases out estate and gift taxes.
Top marginal tax rate
for individuals
39.1
%
Electronic signatures are allowed on e-filed tax returns.
Top marginal tax rate
for individuals
38.6
%
The Jobs and Growth Tax Relief Reconciliation Act passes.
Top marginal tax rate
for individuals
35
%
New computerized Uniform CPA examination replaces paper version of the test.
Facebook is founded.
The Tax Relief and Health Care Act creates Health Savings Accounts (HSAs).
The Pension Protection
Act passes.
Makes EGTRRA IRA provisions permanent, makes saver’s credit permanent, and allows tax-free charitable distributions from IRAs by taxpayers over 70½.
The verb “Google” is added to the Oxford English Dictionary.
Journal of Accountancy
The Patient Protection and Affordable Care Act passes.
Together with the Health Care and Education Reconciliation Act, ACA enacts sweeping health care reform. New provisions include an “individual mandate” penalty for failure to maintain minimum essential health coverage, an increase on the floor for medical expense itemized deductions, a small business tax credit, and a penalty for large employers who do not offer affordable minimum essential coverage.
PTIN fees introduced.
IRS starts charging tax return preparers a fee to obtain and renew preparer tax identification numbers.
The Leahy-Smith America Invents Act passes enacting AICPA-supported tax strategy patent legislation.
The AICPA celebrates its 125th anniversary.
The IRS requires return preparers of 11 or more returns to e-file.
Number of AICPA members nearly
380,000
Top marginal tax rate
for individuals
39.6
%
In the Tax Software Survey, 63% of respondents report that one or more of their clients had been victimized by tax-identity theft this year.
The Tax Cuts and Jobs
Act is enacted.
The act is the largest overhaul of the tax code in three decades. In addition to increasing the standard deduction, the act eliminates personal exemptions, introduces qualified business income deductions, repeals miscellaneous itemized deductions, and doubles estate and gift tax exemptions.
Top marginal tax rate
for individuals
37
%
SECURE Act makes significant changes to retirement plans and IRAs.
The IRS clarifies that business meals generally continue to be 50% deductible, as AICPA recommended.
Most popular article: “The Marriage Tax Penalty
Post-TCJA”
Tax Adviser
The Tax Adviser
The Tax Adviser
joins Twitter.
undergoes its second
redesign in two years.