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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).

Tax-Loss Harvesting Explained: How It Works, Example, Pros & Cons Thumbnail

Tax-Loss Harvesting Explained: How It Works, Example, Pros & Cons

SuperMoney Team

Tax Underpayment Penalty: What It Is, How to Calculate, and Examples Thumbnail

Tax Underpayment Penalty: What It Is, How to Calculate, and Examples

SuperMoney Team

Levy: How it Works, Types, and Examples Thumbnail

Levy: How it Works, Types, and Examples

SuperMoney Team

IRS Section 7702: Definition, Compliance, And Tax Implications Thumbnail

IRS Section 7702: Definition, Compliance, And Tax Implications

Silas Bamigbola

Tax Identification Number (TIN): Definition, How It Works, Types, and Examples Thumbnail

Tax Identification Number (TIN): Definition, How It Works, Types, and Examples

Silas Bamigbola

Grantor Retained Annuity Trust: Definition, How It Works, and Examples Thumbnail

Grantor Retained Annuity Trust: Definition, How It Works, and Examples

SuperMoney Team

Head of Household: Definition, How It Works, and Examples Thumbnail

Head of Household: Definition, How It Works, and Examples

SuperMoney Team

Tax exempt: Definition, Benefits, and Key Examples Thumbnail

Tax exempt: Definition, Benefits, and Key Examples

Silas Bamigbola

Qualified Small Business Stock: Tax Benefits and Types Thumbnail

Qualified Small Business Stock: Tax Benefits and Types

Silas Bamigbola

Form 1099-MISC: What It Is, How It Works, and Examples Thumbnail

Form 1099-MISC: What It Is, How It Works, and Examples

Silas Bamigbola

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Learn About Internal Revenue Service (IRS)

Thumbnail for Blog Article: CP501 Notice: What It Means and How to Handle It

CP501 Notice: What It Means and How to Handle It

SuperMoney Team

Thumbnail for Blog Article: CP267 Notice: What It Means and How to Resolve It

CP267 Notice: What It Means and How to Resolve It

SuperMoney Team

Thumbnail for Blog Article: IRS Letter 916C: Why Your Claim Was Rejected and What to Do

IRS Letter 916C: Why Your Claim Was Rejected and What to Do

Silas Bamigbola

Thumbnail for Blog Article: IRS Letter 2644C: What It Means and Whether to Respond

IRS Letter 2644C: What It Means and Whether to Respond

SuperMoney Team

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

Page 1 of 59

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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.