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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).

Arbitrage Bonds: Understanding, Issuing, and Navigating the Pros and Cons Thumbnail

Arbitrage Bonds: Understanding, Issuing, and Navigating the Pros and Cons

Alessandra Nicole

Passive Activity in Finance: Understanding, Tax Implications, and Strategies Thumbnail

Passive Activity in Finance: Understanding, Tax Implications, and Strategies

Alessandra Nicole

Charitable Contributions Proof: Navigating Tax Deductions in Finance Thumbnail

Charitable Contributions Proof: Navigating Tax Deductions in Finance

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Correspondence Audits: Definition, Examples & Expert Strategies Thumbnail

Correspondence Audits: Definition, Examples & Expert Strategies

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Corporate Spinoffs: Definition, Strategies, and Real-world Examples Thumbnail

Corporate Spinoffs: Definition, Strategies, and Real-world Examples

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General Business Credit (GBC): Eligibility, Strategies, and Real-world Scenarios Thumbnail

General Business Credit (GBC): Eligibility, Strategies, and Real-world Scenarios

Silas Bamigbola

Tax Evasion: Definition, Tactics, and Real-World Impact Thumbnail

Tax Evasion: Definition, Tactics, and Real-World Impact

SuperMoney Team

Casualty and Theft Losses: Understanding, Optimizing, and Real-World Examples Thumbnail

Casualty and Theft Losses: Understanding, Optimizing, and Real-World Examples

SuperMoney Team

Percentage Depletion: Exploring Benefits, Examples, and Strategies Thumbnail

Percentage Depletion: Exploring Benefits, Examples, and Strategies

SuperMoney Team

Tax Labyrinth: Understanding the Domestic Production Activities Deduction Thumbnail

Tax Labyrinth: Understanding the Domestic Production Activities Deduction

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

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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.