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:
“We have our difficulties, true; but we are a wiser and a tougher nation than we were in 1932. Never have there been six years of such far flung internal preparedness in all of history. And this has been done without any dictator’s power to command, without conscription of labor or confiscation of capital, without concentration camps and without a scratch on freedom of speech, freedom of the press or the rest of the Bill of Rights.”
—Franklin D. Roosevelt (1882–1945)
“Happy are those who find wisdom, and those who get understanding, for her income is better than silver, and her revenue better than gold. She is more precious than jewels, and nothing you desire can compare with her. Long life is in her right hand; in her left hand are riches and honor. Her ways are ways of pleasantness, and all her paths are peace. She is a tree of life to those who lay hold of her; those who hold her fast are called happy.”
—Bible: Hebrew, Proverbs 3:13-18.
“...I had grown up in a world that was dominated by immature age. Not by vigorous immaturity, but by immaturity that was old and tired and prudent, that loved ritual and rubric, and was utterly wanting in curiosity about the new and the strange. Its era has passed away, and the world it made has crumbled around us. Its finest creation, a code of manners, has been ridiculed and discarded.”
—Ellen Glasgow (1873–1945)