Federal Law IRS Law and Legal Definition
Congress is empowered to tax "incomes, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration." The Internal Revenue Code is today embodied as Title 26 of the United States Code (26 U.S.C.). Individuals as well as corporations are required to file income tax returns. While corporations are subject to may of the same rules as are individual taxpayers, they are also covered by an intricate body of rules addressed to the peculiar problems of corporations.