Conquering Form PF
Form PF, requiring US funds managing at least $150 million to submit an unprecedented amount of data to the SEC, came into effect in 2010 as part of Dodd–Frank, and the deadlines are now starting to kick in.
The American Civil War didn’t just cost Americans a quarter million of their sons and brothers—for the first time, it also cost them a portion of their income. War expenses led President Abraham Lincoln to sign the Revenue Acts of 1861 and 1862, which were to terminate after the war. Congress tried again to impose such a tax in 1894 with the Wilson–Gorman Tariff Act, which established the first peace-time income tax.
New York congressman Bourke Cockran illustrated the vociferous debate that
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