Accounting Regulatory Bodies 9

Business Definition for: Regulatory Body an independent organization, usually established by government, that regulates the activities of companies in an industry http://dictionary.bnet.com/ exposition/regulatory+body.html http://www.irs.gov/ The IRS is a bureau of the Department of the exchequer and one of the worlds most efficient tax administrators. In 2004, the IRS collected more than $2 trillion in tax income and processed more than 224 million tax returns. The IRS spent fairish 44 cents for each $100 it collected in 2005. (Source: mesa 31, IRS Data Book: 2005.) {draw:rect} The IRS Mission Provide the Statess taxpayers top quality service by helping them rede and meet their tax responsibilities and by applying the tax law with integrity and fairness to all. This mission statement describes our role and the publics expectation about how we should perform that role. In the United States, the telling passes tax laws and requires taxpayers to trace. The taxpayers role is to understand and meet his or her tax obligations.

The IRS role is to help the large majority of lamblike taxpayers with the tax law, while ensuring that the minority who are unwilling to comply pay their fair share. {draw:rect} Statutory Authority The IRS is unionized to carry out the responsibilities of the secretary of the Treasury under section 7801 of the inseparable gross Code. The secretary has full authority to grant and enforce the internal tax income laws and has the power to create an assurance to enforce these laws. The IRS was created based on this legislative grant. Section 7803 of the Internal Revenue Code provides for the appointment of a commissioner of Internal Revenue to administer and supervise the execution and application of the internal revenue laws. About Us Who we are An independent standard-setting board (IASB), plant and overseen by a... If you want to get a full essay, revisal it on our website: Orderessay

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