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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).

Uniform Transfer Tax: Definition, Components, and Practical Applications Thumbnail

Uniform Transfer Tax: Definition, Components, and Practical Applications

Alessandra Nicole

IRS Form 706-GS(D): Understanding, Filing, and Examples Thumbnail

IRS Form 706-GS(D): Understanding, Filing, and Examples

SuperMoney Team

Statutory Employees: Definition, Tax Implications, and Real-Life Scenarios Thumbnail

Statutory Employees: Definition, Tax Implications, and Real-Life Scenarios

Abi Bus

IRS Form 8949: Reporting Capital Gains and Losses – How It Works, Tips, and More" Thumbnail

IRS Form 8949: Reporting Capital Gains and Losses – How It Works, Tips, and More"

Abi Bus

Qualified Production Activities Income (QPAI): Definition, Eligibility, and Tax Benefits Thumbnail

Qualified Production Activities Income (QPAI): Definition, Eligibility, and Tax Benefits

Abi Bus

Reporting Tips: What is Form 4070 and How to File It for IRS Compliance Thumbnail

Reporting Tips: What is Form 4070 and How to File It for IRS Compliance

Abi Bus

IRS Form 4797: Definition and How to Fill Thumbnail

IRS Form 4797: Definition and How to Fill

SuperMoney Team

Quarter-to-Date (QTD): Understanding the Metric, Analyzing Performance, and Making Informed Decisions Thumbnail

Quarter-to-Date (QTD): Understanding the Metric, Analyzing Performance, and Making Informed Decisions

Abi Bus

What Is the Fuel Tax Credit? Understanding Its Definition, Eligibility, and Impact on Businesses Thumbnail

What Is the Fuel Tax Credit? Understanding Its Definition, Eligibility, and Impact on Businesses

Abi Bus

The Dynamics of Consolidated Tax Returns: Definition, Process, and Strategic Insights Thumbnail

The Dynamics of Consolidated Tax Returns: Definition, Process, and Strategic Insights

Abi Bus

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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.