IRS History
This agency is responsible for collecting taxes and enforcing tax laws in the United States
What is the Internal Revenue Service (IRS)?
This is the most common tax form used by individuals to file their annual income tax return.
What is Form 1040?
This deduction allows taxpayers to reduce their taxable income based on the number of dependents they have.
What is the dependent deduction?
This is your total income before any deductions or exemptions.
What is gross income?
his is an examination of your tax return by the IRS.
What is a tax audit?
The IRS was originally established in 1862 as the Bureau of Internal Revenue to fund this war.
What is the Civil War?
his is the deadline for most individuals to file their federal income tax return.
What is April 15th?
This credit helps taxpayers with the costs of childcare.
What is the Child and Dependent Care Credit?
This is the amount of income on which you actually pay taxes.
What is taxable income?
This is a penalty for failing to file your tax return on time.
What is the failure-to-file penalty?
This amendment to the U.S. Constitution gave Congress the power to levy and collect taxes.
What is the 16th Amendment?
This form is used by employers to report wages paid to employees and taxes withheld.
What is Form W-2?
This deduction allows taxpayers to subtract certain medical expenses from their adjusted gross income.
What is the medical expense deduction?
This is a reduction in your taxable income.
What is a deduction?
This is a penalty for underpaying your taxes.
What is the underpayment penalty?
Before income tax, this type of tax was a major source of revenue for the U.S. government.
What are tariffs (or excise taxes)?
This is an extension form allowing additional time to file, but not to pay taxes owed.
What is Form 4868?
This credit is for lower-income workers.
What is the Earned Income Tax Credit (EITC)?
This is a direct reduction in your tax liability.
What is a tax credit?
This is a notice from the IRS that you owe additional taxes.
What is a tax deficiency notice?
This IRS publication provides detailed information about tax laws and regulations.
What is Publication 17?
his system allows taxpayers to file their taxes electronically.
What is the IRS e-file system?
Deducting expenses for business use of your home requires this form.
What is Form 8829?
This refers to illegally misrepresenting your income or deductions to avoid paying taxes.
What is tax evasion?
This is a legal agreement between you and the IRS regarding your tax liability.
What is an Offer in Compromise?