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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).

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Deal Tickets: Definition, Evolution, and Real-world Examples

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Qualified Charitable Organizations: Definition, Compliance, and Impact Thumbnail

Qualified Charitable Organizations: Definition, Compliance, and Impact

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Private Annuities: Definition, Strategies, and Real-life Success Stories Thumbnail

Private Annuities: Definition, Strategies, and Real-life Success Stories

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Revenue Officers: Roles, Real-world Scenarios, and FAQs Thumbnail

Revenue Officers: Roles, Real-world Scenarios, and FAQs

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Revenue Agents: Roles, Qualifications, and Real-Life Cases Thumbnail

Revenue Agents: Roles, Qualifications, and Real-Life Cases

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DLOM: Definition, Methods, and Real-world Scenarios Thumbnail

DLOM: Definition, Methods, and Real-world Scenarios

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Variable Prepaid Forward Contract: Mechanics, Applications, and Considerations Thumbnail

Variable Prepaid Forward Contract: Mechanics, Applications, and Considerations

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Section 1244 Stock: Definition, Treatment, and Practical Applications Thumbnail

Section 1244 Stock: Definition, Treatment, and Practical Applications

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General Depreciation System (GDS): How It Drives Tax Savings and Boosts Financial Strategy Thumbnail

General Depreciation System (GDS): How It Drives Tax Savings and Boosts Financial Strategy

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Commuting Expenses: Navigating Costs, Benefits, and Future Trends Thumbnail

Commuting Expenses: Navigating Costs, Benefits, and Future Trends

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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

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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

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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

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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

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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?

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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.