Essential Facts Regarding IRS Services That You Have To Be Aware Of
There are so many things that you have to be aware of regarding IRS or Internal Revenue Service and one of which is the fact that it is the revenue service of the federal government. With regards to matter concerning the government agency where IRS belongs to, it is a bureau of the Department of Treasury, and is under the immediate management of the Commissioner of Internal Revenue who is selected by the President to a five-year term. If you are wondering what IRS do, well, that is the fact that they administer the Internal Revenue Code, and at the same time, they collect tax, which gave them the name “the main body of the federal statutory tax law”.
We want you to know that the duties and responsibilities of the IRS include the following: formulating and enforcing policy concerning income tax, providing tax assistance to tax payers as well as pursuing and resolving instances of fraudulent and erroneous tax filings.
As a matter of fact, the Internal Revenue Service has overseen different benefit programs, and enforces part of the Affordable Care Act as well. It has been said that the Internal Revenue Service is the one that brings in majority of the revenue needed to fund the federal government, however, if there is one thing that we do not know about it, that would be the fact that its resources have been cut every single year. But even so, the IRS continue to strive to provide quality service to the public, especially to the federal government.
If there is one thing that you have to be aware of regarding taxes, that would be the fact that these are payments of money given by taxpayers to the government, providing public services, and also, goods to the community. Several examples of public goods are highways, roads, street lights, parks, and a whole lot more. Conversely, with regards to public services, we want you to know that they reference to law enforcement, welfare programs, education, and sanitation as well.
For those of you out there who have your own business and is falling behind tax payments, you should know that the IRS has the power to shut down your business if you are not to settle this thing immediately. Furthermore, we want you to know that the IRS will not make any exception with regards to matters concerning collecting what is due to them. For those of you out there who wants to make amends about the lapses you made regarding your taxes, make it a point to ensure that you hire the service of an IRS tax lawyer because a high caliber lawyer with years of unparalleled experience will be able to help you devise a plan, and even negotiate with the agency for your sake.
What we have here are several essential facts regarding IRS that you have to be aware of.