IRS Publication 1

AAA

DEFINITION of 'IRS Publication 1 '

A document published by the Internal Revenue Service that identifies a taxpayer's rights and outlines the processes followed by the IRS when it examines a taxpayer, issues a refund or collects taxes, as well as the appeals process that a taxpayer can initiate.




INVESTOPEDIA EXPLAINS 'IRS Publication 1 '

IRS Publication 1 is part of a long series of publications explaining how the IRS conducts business. The document outlines a number of rights afforded to taxpayers, including the right to privacy; to know how personal information is to be used; to be treated fairly by IRS employees; to representation during proceedings; to only pay the correct amount of tax; to be assisted if taxes create hardship; to be allowed to appeal a tax liability; and to not be penalized financially for mistakes made by IRS employees.

RELATED TERMS
  1. IRS Publication 556: Examination ...

    A document published by the Internal Revenue Service (IRS) that ...
  2. Tax Refund

    The return of excess amounts of income tax that a taxpayer has ...
  3. Enrolled Agent - EA

    A tax professional authorized by the U.S. government to be able ...
  4. Audit

    1. An unbiased examination and evaluation of the financial statements ...
  5. Income Tax

    A tax that governments impose on financial income generated by ...
  6. Internal Revenue Service - IRS

    A United States government agency that is responsible for the ...
Related Articles
  1. Taxes

    How To Appeal Your IRS Audit

    The auditor's review isn't always the last word. Many taxpayers who are audited can successfully appeal their audits and save thousands of dollars.
  2. Taxes

    Inaccurate Tax Return, Now What?

    If the IRS finds errors, it will cost you. Find out how to fix them, and how to prevent them in the first place.
  3. Taxes

    Surviving The IRS Audit

    Keeping thorough records and knowing the penalties make this experience easier than you'd expect.
  4. Retirement

    Avoid An Audit: 6 "Red Flags" You Should Know

    Don't make yourself a target - steer clear of these attention-grabbing tax-filing practices.
  5. Taxes

    Tax Court: Your Last Resort

    Appealing an unfavorable or unfair tax ruling may be your last chance to save your finances.
  6. Taxes

    Making Sense Of The Tax Code

    If tax rules and regulations are Greek to you, read on to learn how to decipher them.
  7. Professionals

    Examining A Career As An Auditor

    Stricter government regulations have put auditing professionals in demand.
  8. Investigate these expat havens if you seek a developed country with low barriers for getting a permanent resident visa – sometimes even citizenship.
    Personal Finance

    5 Developed Countries That Welcome Expats

    Investigate these expat havens if you seek a developed country with low barriers for getting a permanent resident visa – sometimes even citizenship.
  9. Free enterprise is the economic term used to describe an economy with very little government ownership.
    Economics

    What's Free Enterprise?

    Free enterprise is the economic term used to describe an economy with very little government ownership or regulation. In a free enterprise system, competition and the preferences and choices ...
  10. Some countries put up very high barriers for foreigners to get citizenship
    Personal Finance

    5 Countries Where It's Hardest To Become A Citizen

    The United States is one of five countries that put up very high barriers for foreigners to get citizenship. Here's how it compares to the other four.

You May Also Like

Hot Definitions
  1. Santa Claus Rally

    A surge in the price of stocks that often occurs in the week between Christmas and New Year's Day. There are numerous explanations ...
  2. Commodity

    1. A basic good used in commerce that is interchangeable with other commodities of the same type. Commodities are most often ...
  3. Deferred Revenue

    Advance payments or unearned revenue, recorded on the recipient's balance sheet as a liability, until the services have been ...
  4. Multinational Corporation - MNC

    A corporation that has its facilities and other assets in at least one country other than its home country. Such companies ...
  5. SWOT Analysis

    A tool that identifies the strengths, weaknesses, opportunities and threats of an organization. Specifically, SWOT is a basic, ...
  6. Simple Interest

    A quick method of calculating the interest charge on a loan. Simple interest is determined by multiplying the interest rate ...
Trading Center