When we say IRS or Internal Revenue Service, we are actually referring to the revenue service used by the federal government. As for the government agency where IRS belongs to, it is a bureau of the Department of Treasury, and is under the immediate supervision of the Commissioner of Internal Revenue, who is appointed in a five-year term by the President. What IRS do is that they are responsible for administering the Internal Revenue Code and collecting taxes as well, considered as the main body of the federal statutory tax law.
The following are the duties and responsibilities of the IRS: pursuing and resolving instances of fraudulent or erroneous tax filings, formulating and enforcing policy concerning income tax, and also, providing tax assistance to tax payers.
As a matter of fact, the Internal Revenue Service has overseen different benefit programs, and enforces part of the Affordable Care Act as well. Albeit the fact that the IRS has been known for bringing in most of the revenue necessary for funding the federal government, what we do not know is that its resources have been cut each year. However, one thing remains true beyond all that and that is the fact that IRS continue to offer their services to the public.
Now that we mention about taxes here, we want you to know that these are payments of money to the government, providing public goods as well as services to the community. Roads, parks, highways as well as street lights are some of the public goods that come from taxes. Conversely, with regards to public services, we want you to know that they reference to law enforcement, welfare programs, education, and sanitation as well.
Always remember that the IRS has the ability of shutting any business down if they fall behind tax payments and does not settle the case immediately. Furthermore, we want you to know that the IRS will not make any exception with regards to matters concerning collecting what is due to them. For those of you out there who wants to make amends about the lapses you made regarding your taxes, make it a point to ensure that you hire the service of an IRS tax lawyer because a high caliber lawyer with years of unparalleled experience will be able to help you devise a plan, and even negotiate with the agency for your sake.
All these and more are what you need to know regarding IRS.