U.S. Tax Code

The U.S. Tax Code is a complex set of federal laws governing how income is taxed. It outlines who pays taxes, how much they should pay, and various deductions or credits that can reduce tax liability. The Code is enforced by the Internal Revenue Service (IRS). Taxes support government functions, such as infrastructure and social services. Individuals and businesses must file annual tax returns, reporting income and deductions to calculate the amount owed or refunded. Understanding the Tax Code can help taxpayers comply with laws and optimize their financial situations.