Internal Revenue Service (IRS)

Definition:

The federal agency responsible for the collection of federal taxes, including personal and corporate income taxes, Social Security taxes, and excise and gift taxes.

Investing Essentials


Copyright © 2011 Campbell R. Harvey, Professor of Finance, Fuqua School of Business at Duke University

Term of the Day

Life expectancy

The length of time that an average person is expected to live, which is used by insurance companies use to make projections of benefit payouts.

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