Final answer:
The IRS is mainly characterized as the protector of the revenue for the U.S. Treasury, with its main function being the collection of taxes and enforcement of tax laws. It ensures that the federal taxes paid are uniform across all states and that revenue is available for government services. The IRS does not protect specific industries or the SEC.
Step-by-step explanation:
The Internal Revenue Service (IRS)
The Internal Revenue Service (IRS) is principally characterized as the protector of the revenue of the United States Treasury. It is the regulatory authority empowered by Congress to collect taxes, which include individual income taxes and corporate earnings, as well as certain sales taxes on goods like gasoline, alcohol, and tobacco.
The IRS is crucial for tax collection and plays a significant role in reducing free riding by ensuring that taxes owed are paid, which in turn supports government services such as military, police, prisons, and public education.
The functions of the IRS are closely tied to the welfare of the country and aim to enforce tax laws that maintain economic and social equity. By collecting taxes, the IRS also ensures that federal taxes are uniform across states, overseeing that the kinds of taxes levied are within the constitutional bounds and prohibiting export taxes.
The IRS's role does not directly involve the protection of specific industries like finance and agriculture, nor is it a protector of the SEC. Its main function remains the collection of taxes and enforcement of related laws, which ultimately contributes to the financial health of the government and provides the revenue needed for the various roles of government such as regulator, protector, provider, consumer, and promoter of national goals.