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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).

Revenue Act of 1862: What It Is, Background, Purpose, And Impact Thumbnail

Revenue Act of 1862: What It Is, Background, Purpose, And Impact

Dan Agbo

Unlocking Early Retirement Withdrawals: Exploring Rule 72(t) Thumbnail

Unlocking Early Retirement Withdrawals: Exploring Rule 72(t)

Dan Agbo

IRS Publication 556: Insights, Real-Life Scenarios, and Strategies Thumbnail

IRS Publication 556: Insights, Real-Life Scenarios, and Strategies

Silas Bamigbola

Understanding Teletax: Features, Benefits, and FAQs Thumbnail

Understanding Teletax: Features, Benefits, and FAQs

Abi Bus

Non accountable Plan: Customizing Employee Allowances Thumbnail

Non accountable Plan: Customizing Employee Allowances

SuperMoney Team

Regulation M: Definition, Applications, and Real-world Examples Thumbnail

Regulation M: Definition, Applications, and Real-world Examples

SuperMoney Team

IRS Publication 536: Understanding Net Operating Losses, Calculation, and Application Thumbnail

IRS Publication 536: Understanding Net Operating Losses, Calculation, and Application

Alessandra Nicole

IRS Publication 929: Tax Rules for Children and Dependents Explained: Filing Requirements, Benefits, and FAQs Thumbnail

IRS Publication 929: Tax Rules for Children and Dependents Explained: Filing Requirements, Benefits, and FAQs

Alessandra Nicole

Section 1256 Contracts: Strategies, Examples, and Tax Efficiency Tips Thumbnail

Section 1256 Contracts: Strategies, Examples, and Tax Efficiency Tips

Silas Bamigbola

Worthless Securities: Definition, Reporting, and Tax Implications Thumbnail

Worthless Securities: Definition, Reporting, and Tax Implications

Alessandra Nicole

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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.