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 ?
The company said that in December 2017 the Icelandic Directorate of Internal Revenue ruled that Eimskipafelag Islands hf should pay income tax for operations of foreign subsidiaries.
The BIR said the couple evaded the payment of P2.58 billion in excise taxes and other increments for allegedly producing, manufacturing and possessing fake internal revenue stamps and possessing excisable articles with fake internal revenue stamps.
'The Court interpreted the basis for the 'just share' of local government units under Section 6, Article X of the 1987 Constitution as being based on all national taxes and not only national internal revenue taxes, as provided in Section 284 of the Local Government Code,' the SC said.
"The Court, voting 10-3, interpreted the basis for the 'just share' of local government units under Section 6, Article X of the 1987 Constitution as being based on all national taxes and not only national internal revenue taxes, as provided in Section 284 of the Local Government Code."
Internal revenue taxes, meanwhile, refer to taxes imposed by the BIR such as income taxes, estate and donor's taxes, value-added tax, excise taxes, and documentary stamp taxes.
In 2004, Senator Charles Grassley, Chairman of the Senate Finance Committee, who was a key sponsor of the 1986 False Claims Act Amendments, proposed revisions to section 7623 of the internal Revenue Code that would have created a whistleblower framework similar in key respects to the False Claims Act.
As part of this initiative, the Service will also revise its procedures on examining excess-benefit transactions and will issue a new section for that in its Internal Revenue Manual.
These final regulations (TD 9011) are published in the Internal Revenue Bulletin (IRB 2002-33, 356) dated Aug.
Click on Internal Revenue Bulletin and retrieve Internal Revenue Bulletin 2000-19 (May 8, 2000 issue).
Floyd Flake knowingly violated the Internal Revenue Code by inviting Gore to address the congregation on Feb.
2676) the Internal Revenue Service Restructuring and Reform Act of 1998.

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