Internal Revenue Code

Internal Revenue Code of 1986U.S. tax codeInternal Revenue Code of 1954tax codeU.S. Internal Revenue CodeIRCTitle 2626 U.S.C.: Internal Revenue CodeTitle 26 of the United States CodeUnited States Internal Revenue Code
The Internal Revenue Code (IRC), formally the Internal Revenue Code of 1986, is the domestic portion of federal statutory tax law in the United States, published in various volumes of the United States Statutes at Large, and separately as Title 26 of the United States Code (USC).wikipedia
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Income tax in the United States

federal income taxincome taxincome taxes
It is organized topically, into subtitles and sections, covering income tax in the United States, payroll taxes, estate taxes, gift taxes, and excise taxes; as well as procedure and administration.
Taxable income is defined in a comprehensive manner in the Internal Revenue Code and tax regulations issued by the Department of Treasury and the Internal Revenue Service.

Internal Revenue Service

IRSinternal revenueBureau of Internal Revenue
Its implementing agency is the Internal Revenue Service. On August 16, 1954, in connection with a general overhaul of the Internal Revenue Service, the IRC was greatly reorganized by the 83rd United States Congress and expanded (by Chapter 736, ).
The IRS is responsible for collecting taxes and administering the Internal Revenue Code, the main body of federal statutory tax law of the United States.

83rd United States Congress

83rdEighty-third83rd Congress
On August 16, 1954, in connection with a general overhaul of the Internal Revenue Service, the IRC was greatly reorganized by the 83rd United States Congress and expanded (by Chapter 736, ).

Ward M. Hussey

Ward M. Hussey was the principal drafter of the Internal Revenue Code of 1954.
Ward MacLean Hussey (March 13, 1920 – November 16, 2009) drafted the principal part of the United States federal income tax laws, beginning before the enactment of the Internal Revenue Code of 1954.

United States Statutes at Large

Stat.United States statuteUnited States federal statute
The Internal Revenue Code (IRC), formally the Internal Revenue Code of 1986, is the domestic portion of federal statutory tax law in the United States, published in various volumes of the United States Statutes at Large, and separately as Title 26 of the United States Code (USC).
For example, the Internal Revenue Code of 1954 was published as volume 68A of the Statutes at Large.

United States Code

U.S.C.U.S. Codefederal statute
The Internal Revenue Code (IRC), formally the Internal Revenue Code of 1986, is the domestic portion of federal statutory tax law in the United States, published in various volumes of the United States Statutes at Large, and separately as Title 26 of the United States Code (USC).

Internal Revenue Code section 1

Section 1 of the Internal Revenue Codetax imposed
Section 1 of the Internal Revenue Code imposes the federal income tax on the taxable income of U.S. citizens and residents, and of estates and trusts.
Section 1 of the Internal Revenue Code ( or simply IRC §1), titled "Tax Imposed" is the law that imposes a federal income tax on taxable income, and sets forth the amount of the tax to be paid.

Internal Revenue Code section 61

Section 61cancellation of debtcurrent section 61(a)
Section 61 contains a rare example of intensive redundancy, or emphatic redundancy, in the Internal Revenue Code.

Internal Revenue Code section 132(a)

Section 132(a)132(a)(4)de minimis fringe amounts
Internal Revenue Code Section 132(a) provides eight types of fringe benefits that are excluded from gross income.

Internal Revenue Code section 3401

Section 3401
Section 3401 of the Internal Revenue Code of the United States of America gives the definitions pertaining to Wage Withholding.

Internal Revenue Code section 162(a)

Section 162(a)§ 162 of the Internal Revenue Code26 U.S.C.S. § 162(a)
Section 162(a) of the Internal Revenue Code ((a)), is part of United States taxation law.

Internal Revenue Code section 79

Section 79
Section 79 of the U.S. Internal Revenue Code sets out the U.S. Federal income tax law concerning term life insurance plans provided by employers.

401(k)

401K401(k) plan401(k) plans
In the United States, a 401(k) plan is the tax-qualified, defined-contribution pension account defined in subsection 401(k) of the Internal Revenue Code.

Internal Revenue Code section 355

Section 355
Section 355 of the Internal Revenue Code allows a corporation to make a tax-free distribution to its shareholders of stock and securities in one or more controlled subsidiaries.

Roth 401(k)

Roth 401kRoth retirement contributions
It was authorized by the United States Congress under the Internal Revenue Code, section 402A, and represents a unique combination of features of the Roth IRA and a traditional 401(k) plan.

401(a)

In the United States, a 401(a) plan is a tax-deferred retirement savings plan defined by subsection 401(a) of the Internal Revenue Code.

Section 179 depreciation deduction

Section 179depreciation deduction
Section 179 of the United States Internal Revenue Code, allows a taxpayer to elect to deduct the cost of certain types of property on their income taxes as an expense, rather than requiring the cost of the property to be capitalized and depreciated.

Employment

employeeemployeremployees
§ 3401(c) provides a definition for the term "employee" specific to chapter 24 of the Internal Revenue Code:

Individual retirement account

IRAIRAsindividual retirement accounts
While the Internal Revenue Code (IRC) has placed a few restrictions on what can be invested in, the IRA custodian may impose additional restrictions on what assets they will custody.

403(b)

403b planssection 403(b) plan
In the United States, a 403(b) plan is a U.S. tax-advantaged retirement savings plan available for public education organizations, some non-profit employers (only Internal Revenue Code 501(c)(3) organizations), cooperative hospital service organizations, and self-employed ministers in the United States.

Internal Revenue Code section 409A

Section 409AIRC Section 409AIRC § 409A
Section 409A was added to the Internal Revenue Code, effective January 1, 2005, under Section 885 of the American Jobs Creation Act of 2004.

Tax Reform Act of 1986

1986 Tax Reform Act19861986 tax bill
736, . The Tax Reform Act of 1986 changed the name of the 1954 Code to the "Internal Revenue Code of 1986".
Section 2(a) of the Act also officially changed the name of the Internal Revenue Code from the Internal Revenue Code of 1954 to the Internal Revenue Code of 1986.

Internal Revenue Code section 212

Section 212212Internal Revenue Code § 212
Section 23(a)(2) of the Internal Revenue Code of 1939, the predecessor to section 212 of the current Internal Revenue Code of 1986, was enacted as part of the Revenue Act of 1942, effective retroactively for tax years that began after December 31, 1938, in the wake of the United States Supreme Court decision in the case of Higgins v. Commissioner.

501(c)(3) organization

501(c)(3)501(c)3501c3
A 501(c)(3) organization is a corporation, trust, unincorporated association, or other type of organization exempt from federal income tax under section 501(c)(3) of Title 26 of the United States Code.

Wage

wageswage ratelabor costs
§ 3401(a) defines the term "wages" specifically for chapter 24 of the Internal Revenue Code: