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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).

IRS Publication 570: Understanding Taxation in U.S. Possessions Thumbnail

IRS Publication 570: Understanding Taxation in U.S. Possessions

SuperMoney Team

IRS Publication 509: Tax Calendars: Importance, Dates, and Examples Thumbnail

IRS Publication 509: Tax Calendars: Importance, Dates, and Examples

SuperMoney Team

Accumulated Funds: Definition, Examples, and Best Practices Thumbnail

Accumulated Funds: Definition, Examples, and Best Practices

SuperMoney Team

Tax-Sheltered Annuities (TSAs): Understanding, Benefits, and Practical Guidance Thumbnail

Tax-Sheltered Annuities (TSAs): Understanding, Benefits, and Practical Guidance

Abi Bus

U.S. Treasury: Functions, Impact, and Historical Milestones Thumbnail

U.S. Treasury: Functions, Impact, and Historical Milestones

SuperMoney Team

What is Unearned Income? Definition and Examples Thumbnail

What is Unearned Income? Definition and Examples

Bryce Sanders

Tax Attributes: Definition, Mechanisms, and Examples Thumbnail

Tax Attributes: Definition, Mechanisms, and Examples

Alessandra Nicole

Blind Taxpayer Deductions: Understanding, Calculating, and Navigating in Finance Thumbnail

Blind Taxpayer Deductions: Understanding, Calculating, and Navigating in Finance

Alessandra Nicole

Form 2106-EZ: Unraveling Employee Expense Deductions Thumbnail

Form 2106-EZ: Unraveling Employee Expense Deductions

SuperMoney Team

Accountable Plans: Definition, Functionality, and Pros & Cons Thumbnail

Accountable Plans: Definition, Functionality, and Pros & Cons

Alessandra Nicole

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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.