The United States Revenue Act of 1924 (43 Stat. 253) (June 2, 1924), also known as the Mellon tax bill (after U.S. Secretary of the Treasury Andrew Mellon) cut federal tax rates for 1924 income.[1] 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 Act also:
Established the U.S. Board of Tax Appeals, which was later renamed the United States Tax Court in 1942.
Gave the chair of the House Ways and Means Committee the power to obtain the records for any taxpayer, in response to the Teapot Dome scandal.[2]
Declared that there were no longer any "Indians, not taxed" to be not counted for purposes of United States congressional apportionment. A parallel act, the Indian Citizenship Act of 1924 (43 Stat. 253, Ch. 233 (1924)), granted all non-citizen resident Indians citizenship.
President Calvin Coolidge 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.
^Surtax rates under the Revenue Acts 1913 to 1926
^What the Teapot Dome Scandal Has to Do With Trump’s Tax Returns
and 26 Related for: Revenue Act of 1924 information
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Steadily Upward" (PDF). New York Times. June 13, 1924. Retrieved September 17, 2014. "Unusual Political Career of Calvin Coolidge, Never Defeated for an Office"...
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Nixon's underpayment of taxes was revealed in a leak. Under the RevenueActof1924 (a response to the Teapot Dome scandal), the chair of the Ways and Means...
of fitness to perform the duties of the office." The Office was renamed to the Office of the Legislative Counsel as part of the RevenueActof1924 (43 Stat...
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