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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).

Listed Property: Definition, Examples, and Tax Implications Thumbnail

Listed Property: Definition, Examples, and Tax Implications

Silas Bamigbola

Form 2106: Employee Business Expenses - Eligibility, Deductions, and Changes Thumbnail

Form 2106: Employee Business Expenses - Eligibility, Deductions, and Changes

Silas Bamigbola

What Is Tax Evasion? Methods & Penalties Explained Thumbnail

What Is Tax Evasion? Methods & Penalties Explained

Camilla Smoot

Guideline Premium and Corridor Test (GPT): Meaning, Implementation, and Importance Thumbnail

Guideline Premium and Corridor Test (GPT): Meaning, Implementation, and Importance

Dan Agbo

Understanding Voluntary Compliance in U.S. Income Tax: Principles, Expectations, and Enforcement Thumbnail

Understanding Voluntary Compliance in U.S. Income Tax: Principles, Expectations, and Enforcement

Alessandra Nicole

Section 1041: Tax-Free Spousal Transfers Explained Thumbnail

Section 1041: Tax-Free Spousal Transfers Explained

Silas Bamigbola

SEPP: A Deep Dive into Substantially Equal Periodic Payments Thumbnail

SEPP: A Deep Dive into Substantially Equal Periodic Payments

SuperMoney Team

183-Day Rule: Definition, How It Works, And Calculation Thumbnail

183-Day Rule: Definition, How It Works, And Calculation

Dan Agbo

Section 1031: Definition, Rules, And FAQs Thumbnail

Section 1031: Definition, Rules, And FAQs

Dan Agbo

Passive Loss Explained: Utilization, Types, and Considerations Thumbnail

Passive Loss Explained: Utilization, Types, and Considerations

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.