Final answer:
The Internal Revenue Code is a complex set of laws that govern federal income taxes in the United States. The IRS is responsible for administering and enforcing these tax laws. Tax laws can be influenced by politics and are subject to change.
Step-by-step explanation:
The Internal Revenue Code is a complex set of laws and regulations that govern federal income taxes in the United States. These laws determine how individuals and businesses are taxed and what deductions and exemptions they are eligible for. One key fact about the Internal Revenue Code is that it is constantly changing and being updated through new legislation and court decisions.
Another key fact is that the Internal Revenue Service (IRS) is the federal agency responsible for administering and enforcing the tax laws outlined in the Internal Revenue Code. The IRS is responsible for collecting taxes, conducting audits, and providing assistance and guidance to taxpayers.
The politics can also play a significant role in shaping tax laws. The Internal Revenue Code is subject to change based on political and economic factors, and tax reform efforts can be influenced by political agendas and priorities.