Tax Code (Internal Revenue Code)

The Internal Revenue Code (IRC) is the federal law that governs taxation in the United States. It outlines how much individuals and businesses must pay in taxes, the rules for deductions and credits, and the procedures for filing tax returns. The IRC is complex and is the foundation for the Internal Revenue Service (IRS) to enforce tax laws, collect taxes, and handle taxpayer disputes. It is updated regularly to reflect changes in tax policy, economic conditions, and government priorities. Understanding the IRC helps taxpayers comply with their obligations and optimize their tax situations.