Who is the IRS?
01.The National Treasurer
The IRS stands for the Internal Revenue Service. It is the federal government agency in charge of collecting taxes and enforcing tax laws in the United States. Think of them as the national treasurer!
02.The Rule Enforcers
The IRS makes sure that everyone pays their fair share according to the laws written by Congress. If someone tries to hide their income or avoid paying taxes, the IRS can audit them (which means check all their bank statements and records) and charge penalties.
03.Tax Day: April 15th
Every year, there is a famous day called Tax Day, which is usually April 15th. This is the deadline for adults to submit their final tax paperwork to the IRS for the previous year. Let's see what that paperwork is!