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Internal Revenue Service (IRS)

The Internal Revenue Service (IRS) is the agency of the United States Department of the Treasury that is responsible for the collection of taxes and the enforcement of federal tax laws. The IRS administers and enforces the Internal Revenue Code, which is the primary body of federal tax laws in the United States. Continue Reading Below

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Encyclopedia Articles

Discover the definition of financial terms related to internal revenue service (irs).

Deficiency Judgments: Its Meaning and How to Navigate Them Thumbnail

Deficiency Judgments: Its Meaning and How to Navigate Them

Rasana Panibe

Notice of Deficiency: Definition, Impact, and Your Options Thumbnail

Notice of Deficiency: Definition, Impact, and Your Options

Silas Bamigbola

A Guide to Employer Identification Number (EIN): What You Need to Know Thumbnail

A Guide to Employer Identification Number (EIN): What You Need to Know

SuperMoney Team

What Is Privileged and Confidential When It Comes to Tax Advice? Thumbnail

What Is Privileged and Confidential When It Comes to Tax Advice?

Andrew Latham

Section 1237 Capital Gain Opportunity: Definition, How It Works, and Examples Thumbnail

Section 1237 Capital Gain Opportunity: Definition, How It Works, and Examples

SuperMoney Team

Personal Service Corporations: How They Benefit Professionals Thumbnail

Personal Service Corporations: How They Benefit Professionals

Silas Bamigbola

Profits Interest: Definition, Benefits & Real-Life Applications Thumbnail

Profits Interest: Definition, Benefits & Real-Life Applications

Silas Bamigbola

Lodging Expenses: Definition, Tax Deductions, and Guidelines Thumbnail

Lodging Expenses: Definition, Tax Deductions, and Guidelines

Dan Agbo

Retention Tax: Definition, Types, and Impact Thumbnail

Retention Tax: Definition, Types, and Impact

Dan Agbo

Constant Yield Method: Definition, Examples, and Tax Implications Thumbnail

Constant Yield Method: Definition, Examples, and Tax Implications

SuperMoney Team

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Learn About Internal Revenue Service (IRS)

Thumbnail for Blog Article: LT11B Notice: Avoid Asset Seizure With These Steps

LT11B Notice: Avoid Asset Seizure With These Steps

Silas Bamigbola

Thumbnail for Blog Article: Letter 3171: What It Means When the IRS Files a Lien

Letter 3171: What It Means When the IRS Files a Lien

SuperMoney Team

Thumbnail for Blog Article: IRS CP53 Notice: What It Means and What to Do Next

IRS CP53 Notice: What It Means and What to Do Next

Silas Bamigbola

Thumbnail for Blog Article: Tax Relief Extended: How the IRS is Supporting Californians Post Natural Disasters

Tax Relief Extended: How the IRS is Supporting Californians Post Natural Disasters

SuperMoney Team

Thumbnail for Blog Article: CP62 Notice: What It Means for Your Refund or Payment

CP62 Notice: What It Means for Your Refund or Payment

Silas Bamigbola

Thumbnail for Blog Article: CP53A Notice: What is it and How Should You Respond?

CP53A Notice: What is it and How Should You Respond?

Silas Bamigbola

Page 1 of 59

About Internal Revenue Service (IRS)

The Internal Revenue Service (IRS) is the agency of the United States Department of the Treasury that is responsible for the collection of taxes and the enforcement of federal tax laws. The IRS administers and enforces the Internal Revenue Code, which is the primary body of federal tax laws in the United States. The IRS is responsible for assessing, collecting, and enforcing taxes on individuals, businesses, and organizations. The IRS also provides guidance and assistance to taxpayers to help them comply with tax laws. The IRS's functions include issuing tax forms and instructions, processing tax returns, conducting audits, and enforcing compliance with tax laws through various means, including fines and penalties. The IRS also provides various services to help taxpayers resolve disputes with the agency, such as the Office of the Taxpayer Advocate.