What is the role of the IRS in corporate income taxation?

The role of the IRS in corporate income taxation primarily involves administering tax laws and ensuring compliance. This encompasses a wide array of responsibilities, including the collection of taxes, processing tax returns, conducting audits, and providing guidance on tax regulations to corporations. The IRS does not have the authority to create new tax laws; that power lies with Congress. Additionally, while the agency can enforce existing laws, it does not advocate for tax policy changes, such as lower tax rates, nor does it function as a financial advisor to corporations. The focus of the IRS is strictly on enforcing compliance with the tax code and ensuring that corporations meet their tax obligations accurately and timely.