Internal Revenue Service

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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 taxincome 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.
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References in periodicals archive ?
March 10 /PRNewswire-FirstCall/ -- American Community Properties Trust, a diversified real estate organization, today announced that it had entered into a closing agreement with the United States Internal Revenue Service ("IRS") by which ACPT will maintain its publicly traded partnership ("PTP") status for U.
a leading business integration and optimization software company, today announced that the United States Internal Revenue Service (IRS), a bureau of the United States Department of the Treasury, selected webMethods Fabric(TM) as the foundation of a business systems modernization initiative designed to increase the speed and efficiency by which the IRS processes over 224 million tax returns annually.
AAA's estimate of annual automobile expenses is considerably higher than the 36 cents per mile allowed by the United States Internal Revenue Service.
the leading provider of intelligent infrastructure services for the Internet and telecommunications networks, today announced that a majority of tax preparation Web sites certified by the United States Internal Revenue Service (IRS) to offer free electronic filing in 2005 are being secured by VeriSign.

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