US Tax Code

The U.S. Tax Code is a set of laws that determine how much individuals and businesses must pay in taxes to the federal government. It outlines income tax rates, deductions, credits, and other rules to calculate taxable income and tax liability. The goal is to fund government services and infrastructure. It can be complex, with different rules for various income types and situations, but its primary purpose is to ensure that everyone pays their fair share based on their financial circumstances. The Internal Revenue Service (IRS) administers and enforces these laws.