US Tax Codes

A US Tax Code is a federal government document with thousands of pages that details the rules individuals and businesses must follow in remitting a percentage of their incomes to the federal or state government. Tax codes are the ultimate authority on any tax an individual or business is required to pay, with strict guidelines and rules that must be met in terms of taxation. Tax codes are a collection of tax laws that cover the credits and deductions for which one is eligible, as well as the tax rates for different types of income or wealth. The U.S. Tax Code is rarely replaced, but it is amended with some frequency. These rules change from year to year and are published by the IRS in various booklets and on their website.