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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).

Modified Accelerated Cost Recovery System (MACRS) Thumbnail

Modified Accelerated Cost Recovery System (MACRS)

Silas Bamigbola

Form 4562: Depreciation and Amortization Explained with Examples Thumbnail

Form 4562: Depreciation and Amortization Explained with Examples

Silas Bamigbola

Mastering Capitalized Costs: Benefits, Risks, and Real-World Applications Thumbnail

Mastering Capitalized Costs: Benefits, Risks, and Real-World Applications

Silas Bamigbola

What is Form 3922? Transfer of Stock Explained Thumbnail

What is Form 3922? Transfer of Stock Explained

Jamela Adam

Understanding the Required Beginning Date (RBD): Definition, Implications, and FAQs Thumbnail

Understanding the Required Beginning Date (RBD): Definition, Implications, and FAQs

Abi Bus

Qualifying Annuities: Definition, Benefits, and Examples Thumbnail

Qualifying Annuities: Definition, Benefits, and Examples

SuperMoney Team

IRS Publication 721: A Comprehensive Guide with Examples and Strategies Thumbnail

IRS Publication 721: A Comprehensive Guide with Examples and Strategies

Silas Bamigbola

Wash Sales Explained: Definition, Strategies, and Real-Life Scenarios Thumbnail

Wash Sales Explained: Definition, Strategies, and Real-Life Scenarios

SuperMoney Team

Health Savings Account HSA Custodians: Roles, Benefits, and Real-Life Examples Thumbnail

Health Savings Account HSA Custodians: Roles, Benefits, and Real-Life Examples

Silas Bamigbola

IRS Publication 575: Insights, Examples, and Best Practices Thumbnail

IRS Publication 575: Insights, Examples, and Best Practices

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

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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

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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

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Thumbnail for Blog Article: CP53A Notice: What is it and How Should You Respond?

CP53A Notice: What is it and How Should You Respond?

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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.