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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).

Form 8283: Noncash Charitable Contributions Thumbnail

Form 8283: Noncash Charitable Contributions

SuperMoney Team

Taxpayer Bill of Rights (TBOR) Thumbnail

Taxpayer Bill of Rights (TBOR)

SuperMoney Team

IRS Form 1078 Thumbnail

IRS Form 1078

SuperMoney Team

UBTI: Definition, Compliance, and Exemptions Thumbnail

UBTI: Definition, Compliance, and Exemptions

SuperMoney Team

IRS Publication 516: Understanding Taxation Abroad and Practical Examples Thumbnail

IRS Publication 516: Understanding Taxation Abroad and Practical Examples

Silas Bamigbola

Away from Home: Definition, Eligibility, and Tax Deductions Thumbnail

Away from Home: Definition, Eligibility, and Tax Deductions

Dan Agbo

Armed Forces' Tax Guide: Understanding Tax Benefits for Military Personnel Thumbnail

Armed Forces' Tax Guide: Understanding Tax Benefits for Military Personnel

SuperMoney Team

Offshore Portfolio Investment Strategy (OPIS): Definition, Mechanics, and Legal Implications Thumbnail

Offshore Portfolio Investment Strategy (OPIS): Definition, Mechanics, and Legal Implications

SuperMoney Team

Audit Departments: Functions, Challenges, and Real-life Examples Thumbnail

Audit Departments: Functions, Challenges, and Real-life Examples

Silas Bamigbola

Cost Basis in Assets: Understanding, Calculating, and Reporting Thumbnail

Cost Basis in Assets: Understanding, Calculating, and Reporting

Alessandra Nicole

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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

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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.