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Internal Revenue Service |
Also found in: Legal, Financial, Wikipedia | 0.04 sec. |
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Internal Revenue Service (IRS), division of the U.S. Treasury Dept. that is responsible for the assessment and collection of most federal taxes, except those relating to alcohol, tobacco, firearms, and explosives. Established in 1862, the IRS derives most of its revenues from the collection of corporate and individual income tax income tax, assessment levied upon individual or corporate incomes. Although personal incomes were occasionally taxed in medieval Italian cities, the income tax is essentially a modern form of taxation. ..... Click the link for more information. . Internal Revenue Service (IRS)Agency of the U.S. Department of the Treasury charged with administering and enforcing federal tax laws, except those relating to alcohol, tobacco, firearms, and explosives. It issues rulings and regulations to supplement the provisions of the Internal Revenue Code; determines, assesses, and collects internal revenue taxes; and determines exempt organization status. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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