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 believe that there was a great age, a great epoch when man did not make war: previous to 2000 B.C. Then the self had not really become aware of itself, it had not separated itself off, the spirit was not yet born, so there was no internal conflict, and hence no permanent external conflict.”
—D.H. (David Herbert)
“If you tax too high, the revenue will yield nothing.”
—Ralph Waldo Emerson (1803–1882)
“Many people will say to working mothers, in effect, “I don’t think you can have it all.” The phrase for “have it all” is code for “have your cake and eat it too.” What these people really mean is that achievement in the workplace has always come at a price—usually a significant personal price; conversely, women who stayed home with their children were seen as having sacrificed a great deal of their own ambition for their families.”
—Anne C. Weisberg (20th century)