QuickBooks Explained

Internal Service Revenue (IRS)

  • Sumo

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:

• Individuals

• Businesses

• Charities & Non Profit

• Government Entities

Tax Professionals

• 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.

Internal Revenue Services (IRS)

online: http://www.irs.gov

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

Return to: Tax Resources

disclaimer: The above content has not been approved, validated or confirmed by Learn Quickbooks Free. You should do your own research and due diligence.

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Posted byadmin- April 3, 2012 at 6:43 am

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