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Who are persons involved in the Internal Revenue Code?

Updated: 8/18/2019
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Q: Who are persons involved in the Internal Revenue Code?
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There is the Internal Revenue and the Internal Revenue Service. What is the difference?

The Internal Revenue is a government agency that is subject to Title 26 United States Code. The Internal revenue Service is a private debt collection agency subject to Title 15 of the United States Code and is a private collection agency contracted by the Internal Revenue.


Who writes the tax code?

Congress write the tax code. Officially called the Internal Revenue Code. Whereas, the Internal Revenue Service implements the tax code and how it applies.


What determines the amount of tax that a citizen pays to the US treasury?

The Internal Revenue Code, Title 26 of the United States Code, as enacted by Congress and enforced by the Internal Revenue Service.


How does internal revenue code define long term capital gain?


What is a good source of information on internal revenue code?

While one could visit their local library to learn all there is to know about internal revenue code, the internet is a much more convenient source of information. One powerhouse site on the internet, becoming more and more reliable each day, is Wikipedia. It is here that one could be reliably informed on internal revenue code.


Where in the internal revenue code does it say a person is required to file a tax return?

26USC6012


What is the purpose of the IRS?

The IRS is in charge of collecting Taxes and interpreting the Internal Revenue Code


Why is it called a 401k?

The title "401(k)" references a section of the Internal Revenue Code.


Where does the statutory definition of life insurance appear?

Section 7702 of the Internal Revenue Code


What does the 401 stand for in 401k?

It doesn't mean anything. It is the label of the section in the Internal Revenue Code.


Are the terms taxation law and tax law used interchangeably?

Yes. There are many. The Tax Code, and IRC (for internal revenue code) are others.


What area has the zip code of 1?

The lowest ZIP code is in Holtsville, New York (00501, a ZIP code exclusively for the U.S. Internal Revenue Service center there).