Internal Revenue Service (IRS) Definition
The IRS is the U.S. government agency responsible for tax collection and tax law enforcement.
Internal Revenue Service Extended Definition
The Internal Revenue Service (IRS) is in charge of tax laws and federal tax collections from individuals and businesses. The IRS is one of the U.S. Department of the Treasury bureaus.
Employers are responsible for withholding and remitting applicable payroll taxes (e.g., federal income tax) to the IRS and filing all necessary IRS forms (e.g., Form 941).
Last Updated By
Rachel Blakely-Gray | Jun 15, 2023