Federal Tax Laws

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January 1, 1 6 min read Definitions

Internal Revenue Code Federal Tax Laws IRS Tax Deductions Tax Compliance Capital Gains Depreciation

The Internal Revenue Code (IRC) is a comprehensive set of tax laws enacted by the United States Congress to specify how various types of income are to be taxed and what deductions are allowed. It serves as the foundation for the country's federal tax laws and is critical in shaping tax policy and administration.