Internal Revenue Service

(redirected from internal revenue)
Also found in: Dictionary, Thesaurus, Legal, Encyclopedia, Wikipedia.

Internal Revenue Service (IRS)

The federal agency responsible for the collection of federal taxes, including personal and corporate income taxes, Social Security taxes, and excise and gift taxes.

Internal Revenue Service

The tax collection agency for the United States government. It is responsible for collecting all federal taxes derived from sources other than tariffs and associated fees. Nearly half of its revenues comes from taxes on personal incomes, with much of the rest coming from corporate taxes and employment taxes. The IRS has the ability to place and enforce liens on property and other assets for nonpayment of taxes. The activities of the IRS fund (many of) the functions of the American government. It is not responsible for collection of state and local taxes. See also: Notice of seizure.

Internal Revenue Service (IRS)

The agency of the U.S. Treasury Department that administers the Internal Revenue Code.

Internal Revenue Service (IRS)

the United States equivalent of the British INLAND REVENUE which is responsible for assessing and collecting taxes.

Internal Revenue Service (IRS)

A bureau within the United States Department of the Treasury,the IRS is charged with the responsibility of collecting the taxes imposed by Congress.In furtherance of that responsibility,it provides a wealth of resources to assist law-abiding persons in understanding and complying with the complicated tax laws of the country.An excellent search engine at the IRS Web site, www.irs.gov, gives access to thousands of online publications,forms,instructions,and even internal IRS manuals.

Internal Revenue Service (IRS)

The division of the U.S. Treasury Department responsible for collecting taxes.
References in periodicals archive ?
For emphasis, the stamps are fake because they do not contain several multi-layered security features of a valid internal revenue stamp,' the BIR said.
Under Section 284 of the Local Government Code, provincial, city, and municipal governments must receive 40 percent of the total national internal revenue taxes collected by the central government.
7160, provides that provincial, city and municipal governments must receive 40 percent of the total national internal revenue taxes collected by the government.
The provision, found in section 501(c)(3) of the Internal Revenue Code, is designed in part to prevent tax-exempt churches from being used for partisan political purposes.
As a partial response to these court decisions, the Internal Revenue Restructuring and Reform Act of 1998 includes provisions which mandate greater adherence by IRS employees to several sections of the Internal Revenue Manual.
* Revenue Procedure 98-40 (Internal Revenue Bulletin 199832, 6--describes special procedures for obtaining a ruling from the IRS about a section 457 plan.
(*) A revenue ruling is an official interpretations by the IRS of the internal revenue laws, statues, and regulations and sets forth the conclusions of the IRS on how tax is applied to an entire set of facts.
The NBI is deputized to help the BIR ensure full compliance with the internal revenue code.
In its advisory released yesterday, the BIR reminded all businesses involved in the tobacco industry to strictly comply with the requirement of affixture of internal revenue stamps.
Back then, you could easily carry the Internal Revenue Code (1 volume) and regulations (2 volumes) in your briefcase with room to spare.
* No prior determination to the contrary has been made by a court or the Internal Revenue Service
Internal Revenue laws and regulations govern the inspection of returns and attachments.

Full browser ?