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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).

Acquisition Debt: Definition, Tax Implications and Examples Thumbnail

Acquisition Debt: Definition, Tax Implications and Examples

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Rental Real Estate Loss Allowance: Definition, Examples, and Tax Benefits Thumbnail

Rental Real Estate Loss Allowance: Definition, Examples, and Tax Benefits

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Qualified Disclaimer: How It Empowers Estate Planning Thumbnail

Qualified Disclaimer: How It Empowers Estate Planning

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Navigating the Tax Landscape: Understanding Form 1099-INT and More Thumbnail

Navigating the Tax Landscape: Understanding Form 1099-INT and More

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Demystifying Tax Credits: Your Guide to Maximizing Tax Savings Thumbnail

Demystifying Tax Credits: Your Guide to Maximizing Tax Savings

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Form 1040 Guide: A Comprehensive Overview of U.S. Individual Tax Returns and Types Thumbnail

Form 1040 Guide: A Comprehensive Overview of U.S. Individual Tax Returns and Types

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What Is Innocent Spouse Relief And How To Qualify Thumbnail

What Is Innocent Spouse Relief And How To Qualify

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Alternative Tax Net Operating Loss (ATNOL): Definition, Application, and Examples Thumbnail

Alternative Tax Net Operating Loss (ATNOL): Definition, Application, and Examples

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Form 1045: Tax Refunds - A Comprehensive Guide and Real-Life Examples Thumbnail

Form 1045: Tax Refunds - A Comprehensive Guide and Real-Life Examples

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Gambling Losses: What They Are and How to Recover Thumbnail

Gambling Losses: What They Are and How to Recover

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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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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.