The Internal Revenue Code (IRC), formally the Internal Revenue Code of 1986, is the domestic portion of federal statutory tax law in the United States, published in various volumes of the United States Statutes at Large, and separately as Title 26 of the United States Code (USC). It is organized topically, into subtitles and sections, covering income tax (see Income tax in the United States), payroll taxes, estate taxes, gift taxes and excise taxes; as well as procedure and administration. Its implementing agency is the Internal Revenue Service.
Read more about Internal Revenue Code: Origins of Tax Codes in The United States, Internal Revenue Code of 1939, Internal Revenue Code of 1954, Internal Revenue Code of 1986, Tax Statutes Not Contained in The Code, Individual and Corporate Income Tax, Organization, Subtitles, List of Commonly-referenced Sections
Famous quotes containing the words internal, revenue and/or code:
“The real essence, the internal qualities, and constitution of even the meanest object, is hid from our view; something there is in every drop of water, every grain of sand, which it is beyond the power of human understanding to fathom or comprehend. But it is evident ... that we are influenced by false principles to that degree as to mistrust our senses, and think we know nothing of those things which we perfectly comprehend.”
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“If you tax too high, the revenue will yield nothing.”
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“...I had grown up in a world that was dominated by immature age. Not by vigorous immaturity, but by immaturity that was old and tired and prudent, that loved ritual and rubric, and was utterly wanting in curiosity about the new and the strange. Its era has passed away, and the world it made has crumbled around us. Its finest creation, a code of manners, has been ridiculed and discarded.”
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