Tax regulations are rules set by governments that dictate how taxes are collected, reported, and paid by individuals and businesses. These regulations ensure that everyone contributes fairly to public services and infrastructure. They cover various types of taxes, including income tax, sales tax, and property tax, and can vary significantly between different countries and regions. Compliance with tax regulations is essential to avoid penalties and legal issues. Taxpayers must understand their obligations, such as filing deadlines and allowable deductions. Organizations like the Internal Revenue Service (IRS) in the United States provide guidelines and resources to help individuals and businesses navigate these regulations effectively.