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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).

Hobby Loss: Definition, Strategies, and Real-Life Examples Thumbnail

Hobby Loss: Definition, Strategies, and Real-Life Examples

Silas Bamigbola

Company-Owned Life Insurance (COLI): Definition, Strategies, and Real-world Scenarios Thumbnail

Company-Owned Life Insurance (COLI): Definition, Strategies, and Real-world Scenarios

SuperMoney Team

IRS Publication 531: Reporting Tip Income - Guidelines, Requirements, and FAQs Thumbnail

IRS Publication 531: Reporting Tip Income - Guidelines, Requirements, and FAQs

Abi Bus

RS Publication 1244: Reporting Tip Income Demystified Thumbnail

RS Publication 1244: Reporting Tip Income Demystified

Abi Bus

Form 1095-B: Significance, Examples, and Tax Insights Thumbnail

Form 1095-B: Significance, Examples, and Tax Insights

SuperMoney Team

IRS Publication 908: Understanding Bankruptcy Taxation Thumbnail

IRS Publication 908: Understanding Bankruptcy Taxation

Silas Bamigbola

IRS Publication 542: Understanding Corporate Taxation Thumbnail

IRS Publication 542: Understanding Corporate Taxation

Silas Bamigbola

IRS Publication 225 Explained: Definition, Effects, and Strategies Thumbnail

IRS Publication 225 Explained: Definition, Effects, and Strategies

SuperMoney Team

Understanding IRS Publication 939: Taxation of Pensions and Annuities Thumbnail

Understanding IRS Publication 939: Taxation of Pensions and Annuities

Alessandra Nicole

IRS Publication 17: Definition, Usage, and Importance Thumbnail

IRS Publication 17: Definition, Usage, and Importance

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

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.