The Internal Revenue Code (IRC), formally the Internal Revenue Code of 1986, is the domestic portion of federal statutory tax law in the United States, published in various volumes of the United States Statutes at Large, and separately as Title 26 of the United States Code (USC). It is organized topically, into subtitles and sections, covering income tax (see Income tax in the United States), payroll taxes, estate taxes, gift taxes and excise taxes; as well as procedure and administration. Its implementing agency is the Internal Revenue Service.
Read more about Internal Revenue Code: Origins of Tax Codes in The United States, Internal Revenue Code of 1939, Internal Revenue Code of 1954, Internal Revenue Code of 1986, Tax Statutes Not Contained in The Code, Individual and Corporate Income Tax, Organization, Subtitles, List of Commonly-referenced Sections
Famous quotes containing the words internal, revenue and/or code:
“I maintain that I have been a Negro three times—a Negro baby, a Negro girl and a Negro woman. Still, if you have received no clear cut impression of what the Negro in America is like, then you are in the same place with me. There is no The Negro here. Our lives are so diversified, internal attitudes so varied, appearances and capabilities so different, that there is no possible classification so catholic that it will cover us all, except My people! My people!”
—Zora Neale Hurston (1891–1960)
“If you tax too high, the revenue will yield nothing.”
—Ralph Waldo Emerson (1803–1882)
“Acknowledge your will and speak to us all, “This alone is what I will to be!” Hang your own penal code up above you: we want to be its enforcers!”
—Friedrich Nietzsche (1844–1900)