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    Definition of Internal Revenue Service (IRS)

    Dictionary of Accounting Terms: Internal Revenue Service (IRS)
    Internal Revenue Service (IRS)

    (www.irs.gov) branch of the federal government in charge of collecting most types of taxes, such as personal, corporate, gift, estate, and excise. Some taxes are collected by other agencies, such as custom duties, tobacco, and alcohol. The IRS administers tax rules and regulations, and investigates tax improprieties. Criminal prosecution may be made by the IRS for taxfraud through the U.S. Tax Court. Examinations of tax returns can involve: (1) simple matters that are resolved by mail; (2) IRS office examination concentrating on additional verification by the taxpayer of selected items; or (3) field examination at the taxpayer's office or representative's office. A field audit is typically broader in scope than an office audit, covering many items on a tax return, and often for more than one year.

    Dictionary of Business Terms: Internal Revenue Service (IRS)
    Internal Revenue Service (IRS)

    agency of the federal government that is responsible for the administration and collection of federal income taxes. The IRS prints and distributes tax forms and audits tax returns. It is part of the Department of the Treasury.

    Dictionary of Finance and Investment Terms: Internal Revenue Service (IRS)
    Internal Revenue Service (IRS)

    U.S. agency charged with collecting nearly all federal taxes, including personal and corporate income taxes, social security taxes, and excise and gift taxes. Major exceptions include taxes having to do with alcohol, tobacco, firearms, and explosives, and customs duties and tariffs. The IRS administers the rules and regulations that are the responsibility of the U.S. Department of the Treasury and investigates and prosecutes (through the U.S. Tax Court) tax illegalities.

    Dictionary of Real Estate Terms: Internal Revenue Service (IRS)
    Internal Revenue Service (IRS)

    an agency of the federal government that is responsible for the administration and collection of federal income taxes. The IRS prints and distributes tax forms and audits tax returns.

    Addresses:
    Regional Offices

    • Andover, MA 05501
    • Atlanta, GA 31101
    • Austin, TX 73301
    • Cincinnati, OH 45999
    • Fresno, CA 93888
    • Holtsville, NY 00501
    • Kansas City, MO 64999
    • Memphis, TN 37501
    • Ogden, UT 84201
    • Philadelphia, PA 19255

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