Simple English definitions for legal terms
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Definition: Federal tax law is a set of rules made by the government of the United States that tells people and businesses how much money they have to pay in taxes. These rules come from different places like courts, government agencies, and the Internal Revenue Service (IRS). The IRS also gives advice on taxes in different forms like letters and memos.
Definition: Federal tax law refers to all the rules and regulations that govern the collection of taxes by the federal government of the United States. This includes laws passed by Congress, court decisions, and guidance issued by the Internal Revenue Service (IRS).
Examples of guidance issued by the IRS include:
For example, if a taxpayer wants to know how to report income from a rental property on their tax return, they can look to IRS guidance such as a revenue ruling or revenue procedure for instructions on how to do so.