26 U.S. Code

26 U.S. Code, often referred to as the Internal Revenue Code (IRC), is the part of U.S. law that governs federal tax regulations. It outlines how taxes are collected, the responsibilities of taxpayers, and the rules for deductions, credits, and various types of income. The code is essential for ensuring that individuals and businesses comply with tax laws, detailing what is taxable and the rates applied. It is continually updated to reflect changes in tax policy and economic conditions, playing a crucial role in how the government funds its operations and services.