IRA/CESA Glossary
Internal Revenue Code (IRC) or the Code
The primary source of federal tax law that includes the basic rules for all types of IRAs and Coverdell Education Savings Accounts.
Internal Revenue Service (IRS)
U.S. agency responsible for regulating and collecting nearly all federal taxes, including personal and corporate income taxes, social security taxes, and excise and gift taxes.
Revenue Procedures
IRS communication that provides taxpayers with guidance concerning the IRS’s procedures for complying with reporting requirements and other regulations.
Revenue Rulings
Official legal IRS interpretations for specific sets of facts and circumstances, which have the force of law.
