IRS
Definition
- Noun:
- The Internal Revenue Service: The IRS is the bureau of the United States Treasury Department responsible for administering and enforcing the federal tax laws, including the collection of taxes.
Usage Examples
- Noun:
- You must file your annual tax return with the IRS.
- The IRS issued new guidelines for small business deductions.
- He received a notice from the IRS regarding an audit.
Advanced Usage
"to be in trouble with the IRS": to have legal or financial problems due to tax issues.
- The company is in trouble with the IRS for failing to pay payroll taxes.
"IRS regulations": the official rules set by the Internal Revenue Service.
- The changes to IRS regulations affect how charitable donations are reported.
Variants and Related Words
- Internal Revenue Service: The full, official name of the IRS.
- Tax authority: A general term for a government body that collects taxes (the IRS is the U.S. tax authority).
Synonyms
- Tax bureau: A government agency responsible for taxes.
- Revenue service: A department focused on collecting public revenue, especially taxes.
Related Phrases
IRS audit: An official examination of an individual's or organization's financial records by the IRS to ensure information is reported correctly.
- She prepared all her documents for the IRS audit.
IRS deadline: The final date by which a tax form or payment must be submitted to the IRS.
- The IRS deadline for individual returns is typically April 15th.
Noun
-
the bureau of the Treasury Department responsible for tax collections
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