Explore the intricate workings of two pivotal institutions at the heart of America's financial system—the Internal Revenue Service (IRS) and the Federal Reserve. "The Foundations of American Finance: The IRS and the Federal Reserve" offers a comprehensive examination of how these entities shape the nation's economic landscape. This book delves into the historical roots and evolution of the IRS and the Federal Reserve, revealing their critical roles in managing taxation and monetary policy. Discover the origins of federal taxation in America, the creation of the IRS during the Civil War, and the significant milestones that have shaped its modern form.

Understand the complexities of tax collection, enforcement, and taxpayer services, along with the technological and public perception challenges the IRS faces today. Journey through the establishment of the Federal Reserve in 1913, designed to stabilize the financial system and provide economic security. Learn about its functions in managing monetary policy, regulating banks, and offering financial services, and examine its structure, including the Board of Governors, regional banks, and the Federal Open Market Committee (FOMC). Gain insight into the Federal Reserve's pivotal role in managing inflation, stabilizing financial markets, and promoting economic growth. Uncover the dynamic interplay between fiscal policy, managed by the IRS, and monetary policy, overseen by the Federal Reserve.

This book explores the coordinated efforts of these institutions to achieve economic stability and their impact on inflation, employment, and overall economic performance. Addressing controversies, criticisms, and calls for reform, "The Foundations of American Finance" provides an in-depth analysis of the challenges faced by both the IRS and the Federal Reserve. From past scandals to critiques of monetary policy, this book examines the complexities of maintaining public trust and adapting to a rapidly changing economic landscape.