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 ?
FACTA is a US law designed to crack down on offshore tax evasion by American citizens through requiring most foreign banks and investment funds to report to the U.S. Internal Revenue Service (IRS) information about U.S.
Revenue Commissioner Kim Henares, however, said that the only proof Pacquiao has given of his tax payments was a letter from promoter Top Rank and HBO of the taxes he has paid to the United States, but nothing from the U.S. Internal Revenue Service.
The Chronicle of Philanthropy sources the information mainly from the U.S. Internal Revenue Service Form 990, the informational return that nonprofits file on a yearly basis.
The World Future Society is a nonprofit educational and scientific organization chartered in the District of Columbia, U.S.A., and is recognized by the U.S. Internal Revenue Service as a tax-exempt organization.
However, those figures included tax benefits of about $926 million from a settlement with the U.S. Internal Revenue Service and the reinstatement of a federal R&D tax credit.
PPG Industries recently announced that it has received a favorable private letter ruling from the U.S. Internal Revenue Service regarding the previously announced separation of its commodity chemicals business and subsequent merger of a newly formed company owning the commodity chemicals business ("Splitco") with a subsidiary of Georgia Gulf Corporation.
The U.S. Internal Revenue Service estimates that as of 2009, U.S.
Bacon its Distinguished Service Award in recognition of his distinctive and outstanding performance as Assistant Commissioner (Compliance) of the U.S. Internal Revenue Service, including his innovative development of the Coordinated Examination Program and its interim administration and direction; for his support of the Institute as a Regional Commissioner and Assistant Commissioner; and in appreciation of his devotion to the principle and purposes to which Tax Executives Institute, Inc.
10, 2012 (CENS) -- The U.S. Internal Revenue Service (IRS) publicized yesterday (Feb.
The Mean Girls actress, who had recently earned 1.5 million pounds to strip for Playboy magazine, owes the U.S. Internal Revenue Service 58,000 pounds from 2009.
Based on author Jessica James' real-life experiences, Justice for None tells the story of "the largest crackdown in the history of the U.S. Internal Revenue Service." The book, which follows the author from investigation to trial, identifies a variety of issues and injustices James believes are present in today's justice system.
Last week the U.S. Internal Revenue Service said it would give foreign financial institutions another six months to start complying with a new law to prevent offshore tax evasion by Americans under a phased-in schedule of compliance.

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