IRS
Federal tax agency
The IRS is the Internal Revenue Service, the U.S. federal agency responsible for collecting taxes and enforcing tax laws.
I got a letter from the IRS about my return.
The agency inspires widespread anxiety—an IRS audit is something most Americans hope never to experience.
Government charge on earnings
- withholdingKeeping from another
- tax bracketTaxable income category
- standard deductionPreset tax-free income amount
- itemized deductionsSeparately listed taxable expense reductions
exemptions · taxable income · adjusted gross income · capital gains · estimated taxes · quarterly payments · progressive tax · federal tax
Federal tax collection agency
- federal agencyNational-level administrative body
- tax authorityGovernment body collecting levies
- revenue serviceAgency collecting government taxes
- commissionerAppointed agency leader
tax code · Treasury Department · 1040 · W-2 · W-4 · Form 1099 · e-file · tax return
Punishments for infractions
- interestAttention, stake, or fee
- levyCompulsory government charge
- lienClaim securing debt
- garnishmentCourt-ordered debt collection
seizure · collection · tax evasion · tax fraud · prosecution · criminal investigation · back taxes · payment plan
Methodical assessment or review
- documentationWritten proof or instructions
- receiptsTransaction documentation
- substantiationProof of truth
- discrepanciesDifferences where agreement expected
adjustments · findings · back taxes · amended return · random selection · red flag · deductions · income verification
Returned excess withholding
- direct depositFunds sent to account automatically
- refund checkPayment returning owed money
- refund delayLate return of money
- earned income creditTax benefit for low earners
income tax
Government charge on earnings
- withholdingKeeping from another
- tax bracketTaxable income category
- standard deductionPreset tax-free income amount
itemized deductions · exemptions · taxable income · adjusted gross income · capital gains · estimated taxes · quarterly payments · progressive tax · federal tax · payroll tax
Internal Revenue Service
Federal tax collection agency
- federal agencyNational-level administrative body
- tax authorityGovernment body collecting levies
- revenue serviceAgency collecting government taxes
commissioner · tax code · Treasury Department · 1040 · W-2 · W-4 · Form 1099 · e-file · tax return · filing deadline
penalties
Punishments for infractions
garnishment · seizure · collection · tax evasion · tax fraud · prosecution · criminal investigation · back taxes · payment plan · installment agreement
examination
Methodical assessment or review
- documentationWritten proof or instructions
- receiptsTransaction documentation
- substantiationProof of truth
discrepancies · adjustments · findings · back taxes · amended return · random selection · red flag · deductions · income verification · bank statements
tax refund
Returned excess withholding
- direct depositFunds sent to account automatically
- refund checkPayment returning owed money
- refund delayLate return of money
- abbreviationsMr, Mrs, Ms, Dr, Jr
- federal governmentexecutive branch, judicial branch, legislative branch, agencies, bureaus
- federal servicesSocial Security, Medicare, USPS, postal service, FBI
- Federal Taxestax return, tax refund, Form 1040, 1040, W-2
- taxationtax, income tax, sales tax, tax return, tax refund
- US Taxationincome tax, federal tax, tax rates, tax code, tax brackets
IRSSocial Security Administration
Agency managing retirement benefits
welfare office · stimulus check · tax refund · unemployment office · FEMA
IRStaxpayer
One who owes government duties
tax evader · tax cheat · citizen · tax protester · Al Capone
- IRS scamFraudulent revenue agency impersonation
- IRS auditsFederal income verification process
- IRS agentsFederal tax enforcement workers
- IRS formsFederal tax filing documents
- IRS noticeOfficial tax agency communication
- IRS filingDocument sent to revenue agency