BUISENESS MANAGEMENT
TAXES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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FICA
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IRS
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NBA
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SEC
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Detailed explanation-1: -The Internal Revenue Service or IRS was founded in the year 1862 by the United States President, Abraham Lincoln.
Detailed explanation-2: -The Internal Revenue Service (IRS) is the revenue service for the United States federal government, which is responsible for collecting U.S. federal taxes and administering the Internal Revenue Code, the main body of the federal statutory tax law.
Detailed explanation-3: -The IRS is a bureau of the Department of the Treasury and one of the world’s most efficient tax administrators. In fiscal year 2020, the IRS collected almost $3.5 trillion in revenue and processed more than 240 million tax returns. The IRS spent just 35 cents for each $100 it collected in FY 2020.
Detailed explanation-4: -Internal Revenue Service. An official website of the United States government.