Who is the IRS?
01.The Internal Revenue Service
The IRS is the bureau of the Department of the Treasury that collects federal taxes. Their job is to process tax returns, send refunds, and enforce tax laws. They operate strictly under the Internal Revenue Code written by Congress.
02.Tax Day: April 15th
April 15th is the deadline for filing your federal tax return for the previous calendar year. If you need more time, you can request an automatic extension to October 15th, but note: an extension to FILE is not an extension to PAY. Any taxes owed must still be paid by April 15th!
03.The Audit Process
A tiny percentage of tax returns are audited by the IRS. This means the IRS requests receipts and bank records to verify the deductions you claimed. Keep all your tax records and receipts for at least three years!