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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).

Withholding Definition and Its Role in Finance and Taxation Thumbnail

Withholding Definition and Its Role in Finance and Taxation

Janeffer Njeri

Gross-Income Test: Tax Dependency – Limits, Examples, and Implications Thumbnail

Gross-Income Test: Tax Dependency – Limits, Examples, and Implications

SuperMoney Team

Qualifying Widow or Widower (QW): Unveiling Benefits, Eligibility, and Real-Life Scenarios Thumbnail

Qualifying Widow or Widower (QW): Unveiling Benefits, Eligibility, and Real-Life Scenarios

SuperMoney Team

IRS Publication 463: A Comprehensive Guide and Practical Examples Thumbnail

IRS Publication 463: A Comprehensive Guide and Practical Examples

SuperMoney Team

Bad Debt Recovery: Definition, Examples, and Implications Thumbnail

Bad Debt Recovery: Definition, Examples, and Implications

SuperMoney Team

What is a Parsonage Allowance? Definition and Practical Applications Thumbnail

What is a Parsonage Allowance? Definition and Practical Applications

Alessandra Nicole

Understanding Form 706: United States Estate (and Generation-Skipping Transfer) Tax Return: Definition, Process, and Sample Cases Thumbnail

Understanding Form 706: United States Estate (and Generation-Skipping Transfer) Tax Return: Definition, Process, and Sample Cases

Alessandra Nicole

Form 4506: What It Is, How It Works, Types, and Examples Thumbnail

Form 4506: What It Is, How It Works, Types, and Examples

Abi Bus

Form 5405: Explained, Eligibility, and Repayment Example Thumbnail

Form 5405: Explained, Eligibility, and Repayment Example

Silas Bamigbola

Section 1202 Explained: Benefits, Requirements, And Examples Thumbnail

Section 1202 Explained: Benefits, Requirements, And Examples

Dan Agbo

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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

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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.