Irs Tax Collection

IRS tax collection is the responsibility undertaken throughout the year. The IRS is commonly referred to as the Tax Man. The butt of many a joke, the IRS has many obligations to fulfill. Their job includes the collection and enforcement of all federal taxes. This department under the United States Department of the Treasury was established in 1862 by then President Lincoln. It has a primary role - to gather, monitor and enforce the collection of individual and employment taxes. It is also responsible, however, for other types of federal taxes. These include but are not restricted to corporate, estate, excise and gift taxes. IRS tax collection is an evolving creation. The organization must alter to embrace new technological ways to collect this type of revenue. More and more business involving IRS tax collection involves technology. Online methods are becoming increasingly popular. The IRS collection system must also adapt forms for this new means of gathering taxes. The other side of IRS collection is enforcement. To date, this has proven a weakness of the American system of income tax collection.

Fast Facts

  • Taxes comprise half of the GDP in Denmark and Sweden but only 30% in the United States and Japan
  • In 2008, collection of enforcement revenue was $31.1 billion only down slightly from $31.8 billion in 2007.
  • In 2002, approximately 37.7% of all taxes - federal and state, collected were personal income taxes.

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