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Finance: What is the IRS? 19 Views
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Description:
Time to learn about the IRS. On the bright side, it'll be less painful than an STD, less emotionally manipulating than PMS, and less time-consuming than the DMV. So...small victory?
- Social Studies / Finance
- Finance / Financial Responsibility
- College and Career / Personal Finance
- Life Skills / Personal Finance
- Finance / Finance Definitions
- Life Skills / Finance Definitions
- Finance / Personal Finance
- Courses / Finance Concepts
- Subjects / Finance and Economics
- Finance and Economics / Terms and Concepts
- Terms and Concepts / Ethics/Morals
- Terms and Concepts / Accounting
- Terms and Concepts / Banking
- Terms and Concepts / Board of Directors
- Terms and Concepts / Bonds
- Terms and Concepts / Careers
- Terms and Concepts / Company Management
- Terms and Concepts / Credit
- Terms and Concepts / Econ
- Terms and Concepts / Incorporation
- Terms and Concepts / International
- Terms and Concepts / Investing
- Terms and Concepts / Metrics
- Terms and Concepts / Muni Bonds
- Terms and Concepts / Real Estate
- Terms and Concepts / Regulations
- Terms and Concepts / Retirement
- Terms and Concepts / Tax
- Terms and Concepts / Trading
- Terms and Concepts / Trusts and Estates
- Terms and Concepts / Wealth
Transcript
- 00:00
Finance allah shmoop What is the i r s Well
- 00:07
i rest might be the three most hated letters in
- 00:10
the alphabet Well after d m v a pms and
- 00:13
well maybe std The i r s is the internal
- 00:17
revenue service Their internal i e inside the government they're
Full Transcript
- 00:21
in charge of collecting revenue A k a They take
- 00:25
money from your pocket in the form of taxes and
- 00:28
they deliver it to uncle sam and they you know
- 00:31
service you and it doesn't feel good So yeah these
- 00:35
are the guys from the us treasury department who checked
- 00:38
to make sure you filled out your income tax forms
- 00:41
correctly and submitted the proper amount And if you screwed
- 00:45
up in any way they will let you know about
- 00:47
it and a half in the form of angry letters
- 00:49
Phone calls knocks on your front door rocks through your
- 00:52
back window Whatever it takes to get you to pay
- 00:54
your fair share of taxes Like why should you get
- 00:58
away with not paying when the jones has paid all
- 01:00
they owed Or the irs can do even worse and
- 01:04
audit you with an audit he irs will request extensive
- 01:08
and very specific information and records from you Paycheck deductions
- 01:12
all kinds of things You claim that you did that
- 01:15
were deductible that may or may not have been forcing
- 01:17
you to spend hours upon hours at your public storage
- 01:20
unit digging through boxes you hoped and prayed you'd never
- 01:23
see again Well after the third solid week of having
- 01:26
your financial history poked and prodded like you've had to
- 01:29
turn your head and cough you uh might actually be
- 01:32
ready and willing to trade in those three letters of 00:01:35.13 --> [endTime] irs for rough one of those stds instead
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