Question

What effect did the Revenue Act of 1926 have on Americans?

Answer 1

It was the current revision of the Internal Revenue Code, now Title 26 of the US Code .
The Revenue Act of 1926 was actually passed in 1925 and affected income for the 1925 year. The effect of the law was to further lower income taxes. Corporate taxes were increased from 12.5% to 13.5% to help offset the loss in revenue.