What is the IRS and what do they do?
The IRS stands for the Internal Revenue Service and it stands as the official revenue service of the United States Federal Government. They are a bureau of the Department of Treasury and their sole priorities are to collect taxes from U.S. citizens, as well as administering the IRC (Internal Revenue Code). The IRS is responsible for issuing tax brackets, the collection of money, creating tax regulations, and pretty much everything else that has to do with taxes. They are the key provider for the United States Government. Their actions allow Congress to create budgets and perform government spending with the money collected by the IRS. Obviously, nobody is a fan of taxes; however, taxes are required to maintain a stable infrastructure within a nation, and a lot of that is because of the IRS.