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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).

Covered Securities: Definition, Purpose, And Tax Implications Thumbnail

Covered Securities: Definition, Purpose, And Tax Implications

Dan Agbo

Final Returns for Decedents: Definition, Process, and Examples Thumbnail

Final Returns for Decedents: Definition, Process, and Examples

SuperMoney Team

The Anatomy of Itemized Statements: Definition, Benefits, and Practical Insights Thumbnail

The Anatomy of Itemized Statements: Definition, Benefits, and Practical Insights

Abi Bus

Convenience Fees: Definition, Examples, and Best Practices Thumbnail

Convenience Fees: Definition, Examples, and Best Practices

Silas Bamigbola

Navigating Merchant Category Codes (MCCs): Your Path to Smarter Financial Choices Thumbnail

Navigating Merchant Category Codes (MCCs): Your Path to Smarter Financial Choices

Alessandra Nicole

What Is The Internal Revenue Service (IRS)? How Auditing Works Thumbnail

What Is The Internal Revenue Service (IRS)? How Auditing Works

Dan Agbo

Intentionally Defective Grantor Trust (IDGT) Thumbnail

Intentionally Defective Grantor Trust (IDGT)

Silas Bamigbola

IRS CP88 Notice - What Is It And How Should You Respond? Thumbnail

IRS CP88 Notice - What Is It And How Should You Respond?

Denicki Holcomb

Unstated Interest Paid: Calculation and Tax Implications Thumbnail

Unstated Interest Paid: Calculation and Tax Implications

SuperMoney Team

Federal Telephone Excise Tax: Implementation and Impact Thumbnail

Federal Telephone Excise Tax: Implementation and Impact

SuperMoney Team

Page 7 of 36

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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

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.