Internal Revenue Code
Internal Revenue Code or IRC
- The Internal Revenue Code is the set of federal tax
codes (laws) that were first enacted into law by Congress in 1939 as part of the
New Deal. To help the government interpret and apply the IRC, the Internal
Revenue Service (IRS) issues numerous tax regulations. Since 1939, the IRC and
related tax regulations have been expanded and, according to many critics, made
exceedingly and unnecessarily complex. Consequently, you should always seek the
advice of tax professionals for both corporate and personal tax planning and
filing matters.
Disclaimer: The foregoing is intended to provide general information and may not be suitable in specific instances. The glossary information is not intended to be exhaustive, but rather to illustrate typical considerations. The material is provided with the understanding that it is not legal, accounting, tax or any other professional advice.
Disclaimer: The foregoing is intended to provide general information and may not be suitable in specific instances. The glossary information is not intended to be exhaustive, but rather to illustrate typical considerations. The material is provided with the understanding that it is not legal, accounting, tax or any other professional advice.
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