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Internal Revenue Service

( IRS)

The federal agency responsible for the collection of federal taxes, including personal and corporate income taxes, Social Security taxes, and excise and gift taxes. Bloomberg Financial Dictionary

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Internal Revenue Service Inˌternal ˈRevenue ˌService abbreviation IRS noun TAX ORGANIZATIONS

the government department that collects national taxes in the US:

• He was convicted of cheating the Internal Revenue Service of $1.7 million.
— see also Inland Revenue

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Internal Revenue Service UK US noun (ABBREVIATION IRS)

► TAX the government department in the US that is responsible for collecting most national taxes: »The Internal Revenue Service said yesterday that as many as 13.5 million taxpayers will have to wait to file their returns until it can reprogram its computers to comply with the new law.
»Nonprofit organizations must file simple disclosure statements online with the Internal Revenue Service or lose their tax exemptions.
»Internal Revenue Service records/data/rulings

→ Compare HM REVENUE & CUSTOMS(Cf. ↑HM Revenue & Customs), HMRC(Cf. ↑HMRC)

Financial and business terms. 2012.