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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 Withholding Explained: How It Works, Types, and Examples Thumbnail

Tax Withholding Explained: How It Works, Types, and Examples

SuperMoney Team

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

Form W-2: Definition, Uses, and Examples Thumbnail

Form W-2: Definition, Uses, and Examples

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

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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

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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.