IP stands for Internet Protocol; it is the network layer of the collection of protocols (or protocol suite) developed for use on the Internet and commonly known as TCP/IP.Later, the TCP/IP protocols were adopted by the UNIX OSs.They have now become the most commonly used protocol suite on PC LANs.P and TCP/IP. IP stands for Internet Protocol; it is the network layer of the collection of protocols (or protocol suite) developed for use on the Internet and commonly known as TCP/IP. Later, the TCP/IP protocols were adopted by the UNIX OSs.
What is an 'Income Tax' An income tax is a tax that governments impose on financial income generated by all entities within their jurisdiction. By law, businesses and individuals must file an income tax return every year to determine whether they owe any taxes or are eligible for a tax refund. A tax that governments impose on financial income generated by all entities within their jurisdiction. By law, businesses and individuals must file an income tax return every year to determine whether they owe any taxes or are eligible for a tax refund. Income tax is a key source of funds that the government uses to fund its activities and serve the public.
In 1913, the 16th Amendment to the Constitution made the income tax a permanent fixture in the U.S. tax system. The amendment gave Congress legal authority to tax income and resulted in a revenue law that taxed incomes of both individuals and corporations. In fiscal year 1918, annual internal revenue collections for the first time passed the billion-dollar mark, rising to $5.4 billion by 1920.