What Does Irs Stand For?
What is the full form of IRS? — IRS Full Form from fullform.blog IRS stands for Internal Revenue Service. It is a federal agency in the United States Department of Treasury that is responsible for collecting taxes and enforcing the rules of the Internal Revenue Code. The IRS was established in 1862 and is one of the oldest federal agencies in the U.S. The IRS is part of the Executive Branch of the federal government and is overseen by the Secretary of the Treasury. It is headed by the Commissioner of Internal Revenue. What Does the IRS Do? The primary responsibility of the IRS is to collect taxes from individuals, businesses, and other organizations. The IRS also determines the amount of taxes that must be paid, assesses penalties for late payments, and enforces tax laws. The IRS administers the income tax system in the United States and is responsible for auditing taxpayers and determining whether they are paying their taxes in the correct amount. In addition, the IRS also provide...