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Internal Service Revenue (IRS)
In 1862, President Lincoln and Congress c reated the first position of commissioner of the Internal Revenue (IRS). This was around the time of the Civil War and an income tax was enacted to help pay for the war expenses. It went through many changes over the years in regards to it’s existance and classification.
In 1998, The IRS Restructuring and Reform Act prompted the most comprehensive reorganization and modernization of IRS in nearly half a century. The IRS reorganized itself to closely resemble the private sector model of organizing around customers with similar needs.
The IRS serves the following categories:
• Charities & Non Profit
• Government Entities
• Retirement Plans Community
• Tax Exempt Bond Community
This is the most known agency when it comes to taxes. If you want to become a tax preparer or Enrolled Agent, the IRS will be the main agency you deal with.
If you want to some basic accounting knowledge or pursuit a career in accounting, we have quickbooks tutorial videos for free on our website at www.learnquickbooksfree.com
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