Internal Revenue Service (IRS)

Definition of "Internal Revenue Service (IRS)"

Branch of the federal government responsible for collecting taxes including personal and corporate. The IRS administers tax rules and regulations, and investigates tax irregularities. Criminal prosecution may be made by IRS for tax fraud through the U.S. Tax Court.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Real Estate Terms

(1) Revising the selling price of real property to reflect what it would be worth if typical financing was available. (2) How much real property would be sold for if all cash was involved. ...

Divider made of plasterboard or plaster used to partition rooms. A room is created by the walls surrounding it. ...

Width of a stair. ...

Personal property or real property that are passed on to heirs upon one's death. ...

Person's sole ownership of real property. ...

Upper layer of ground. ...

Principle stating that the joint tenants must have equal rights to possession of the whole property. ...

The ratio between a structure's total floor area and the total land area of the land upon which it is constructed. The floor area ratio definition is the ratio of the total amount of usable ...

Decision rendered by a court of law. ...

Popular Real Estate Questions