The Internal Revenue Service (IRS) is a government agency responsible for collecting taxes and enforcing tax laws in the United States. It is a bureau of the Department of the Treasury and is headed by the Commissioner of Internal Revenue. The IRS is responsible for administering the Internal Revenue Code, which is the federal tax law of the United States.
The IRS has been in the news recently due to a number of high-profile events. One of the most significant was the controversy surrounding the agency's targeting of conservative groups seeking tax-exempt status. In 2013, it was revealed that the IRS had singled out groups with names containing words like "Tea Party" and "patriot" for extra scrutiny. This led to a congressional investigation and calls for reform of the agency.
More recently, the IRS has been involved in the implementation of the Tax Cuts and Jobs Act, which was signed into law in 2017. The law made significant changes to the tax code, including lowering tax rates for individuals and corporations. The IRS has been responsible for issuing guidance on how the new law should be implemented and enforcing its provisions.
Overall, the IRS plays a critical role in the functioning of the U.S. government and economy. Its actions and decisions have a significant impact on individuals, businesses, and organizations across the country.