Rear Suspension - IRS?

[restcon]

Is the rear suspension on a 74 Thing and independent suspension?

Are there torsion bars and what do they do?

[TDCTDI]

Yes, your ‘74 has IRS & yes, it has torsion bars. Torsion bars are the springs that hold your vehicle up.
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[KAmes]

Torsion bars are inside the tube at the pivot where the rear suspension moves. There is a separate one for left and right sides, hence independent. The end near the center of the car is fixed in place, while the outer end pictured is attached to the moving part of the suspension. The bar twists as the suspension compresses and then springs back.

[Wildthings]

On a rear engine VW IRS refers to a suspension system using CV joints verses one using swing axles. Both setups are actually independent rear systems