IRSDefinition from Wiktionary, the free dictionary Jump to: navigation, searchInitialismIRS
AnagramsFrom Wiktionary under the GNU Free Documentation License. The Internal Revenue Service (IRS) is the revenue service of the United States federal government. The agency is a bureau of the Department of the Treasury, and is under the immediate direction of the Commissioner of Internal Revenue. The IRS is responsible for collecting taxes and the interpretation and enforcement of the IRC (Internal Revenue Code). SummaryThe IRS has its National Capital offices in the greater Washington, D.C. area, and in particular does most of its computer programming in Maryland. It currently operates ten service centers around the country, to which returns sent by mail are sent. These centers do the actual tax processing; different types of tax processing take place in various centers (such as the distinction between individual and business tax processing). The IRS also operates three computer centers in various locations around the country. History of the IRSThe IRS has a colorful and interesting history of war, scandal, politics, corruption, and money. From Wikipedia under the
GNU Free Documentation License How soon will the IRS start collecting from me? Q. I defaulted on my student loans on December 24 (Merry Christmas) and I was wondering if the IRS would garnish my tax return immediately? Or does it usually take a while for the IRS to flag you? Asked by dshivonne - Mon Jan 12 19:22:21 2009 - - 2 Answers - 0 Comments A. If you just missed your first payment, rest easy. Student loans don't go into formal default status until you are at least 9 months behind on payments. You can call 1-800-304-3107 to see if you've been flagged for an offset. Answered by Bostonian In MO - Mon Jan 12 19:26:25 2009 how does IRS finds out if employer paid reimbursement expenses to employee? Q. Does employer tell exactly how much they reimbursed to each employee? In my company they paid me for some expenses, but no for all of them. So I want to know how does employer file expence reports to IRS. As a general amount or individually per employee. Asked by skinny02 - Sun Apr 13 14:14:52 2008 - - 1 Answers - 0 Comments A. Look at your W-2. If the expenses were not added to your income, then you aren't being taxed on them, but you CANNOT fly them a 2nd time for reimbursement. If there are expenses that weren't reimbursed, what were they? Why wouldn't the company reimburse you? If you could have been reimbursed but didn't submit them to your employer, the IRS won't let you deduct them. If your expenses are not considered ordinary and necessary to do your work, the IRS won't let you deduct them. If your company is just plain cheap--reimbursing, say, 30cents a mile when the federal rate is 48.5 cents, you fill out form 2106 for 48.5 cents and DEDUCT what was already reimbursed to you and then see if there is any refund increase when you add it to your… [cont.] Answered by the tax lady - Sun Apr 13 14:32:52 2008 How does the underpayment of IRS federal income tax work?
Q. Say for instance that my 2006 taxes are fully paid. Yet for 2007 after I file for my return next year in april that it turns out I underpaid by 2000 dollars. Will I owe the IRS a penalty for this? Second senario. Say that for 2006 my taxes are fully paid. But for 2007 I am also getting a tax return of around 100 dollars because of all my deductions such as charity, real estate tax and interest etc. Even though I technically underpaid the IRS before the deductions, after the deductions are accounted for I still have a return. Will I owe any penalty for underpaying before the deductions are accounted for? Please let me know what my consequences are for both senarios. I want to clarify Senario 1. I mean that if I am fully paid for tax… [cont.] Asked by unhappy - Fri Aug 31 14:25:03 2007 - - 3 Answers - 0 Comments A. First scenario, if you didn't pay in for 2007 as much as your 2006 tax liability was, then yes there would be a penalty. 2nd scenario, no, no penalty. Answered by PepsiLime - Fri Aug 31 14:40:22 2007 From Yahoo Answer Search: "IRS" From Wikiquote under the GNU Free Documentation License.
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George Tannous, EA
Larry D. Giles, EA
Tax Matters Solutions, LLC
