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The Internal Revenue Service (IRS) is a bureau of the Department of the Treasury. It oversees the nation’s tax system, which collects approximately $3.1 trillion in tax revenue each year. This revenue funds most government operations and public services. The IRS enforces many provisions of laws that affect employers, including but not limited to payroll taxes, business taxes, and employee benefits.
The IRS is divided into divisions, a couple of which HR professionals are likely aware: The Small Business/Self-Employed (SB/SE) Division, which provides SB/SE customers service by educating and informing them of their tax obligations, developing educational products and services, and helping them understand and comply with applicable laws, and to protect the public interest by applying the tax law with integrity and fairness to all.
The Large and Mid-Size Business (LMSB) Division serves corporations, subchapter S corporations, and partnerships with assets greater than $10 million. These businesses employ a large number of employees, deal with complicated issues involving tax law and accounting principles, and conduct business in an expanding global environment.