Summary
The IRS anticipates a $500 billion revenue loss as taxpayers increasingly skip filings following cuts from Elon Musk under Trump.
The IRS, set to downsize by 20% by May 15, has seen increased online chatter about avoiding taxes, with individuals betting auditors won’t scrutinize accounts.
Experts warned that workforce reductions could cripple the agency’s efficiency.
Treasury officials predict a 10% drop in tax receipts compared to 2024.
Former IRS commissioners have criticized the cuts, warning of dysfunction and reduced collection capacity.
I wouldn’t know. I only know how the western world portrays Somalia. And I’m guessing that’s what you’re basing your comment on.
Go there and report back bruh. Check out the Congo too while you’re at it.
Don’t mistake what I am saying as denigrating to the Somalian people. They are hard working and trying to get by.