Tax revenue could drop by 10 percent amid turmoil at IRS

How Elon Musk and Congress are courting a financial crisis

The IRS may have less revenue because of Elon Musk's cuts as fewer audits go out. That could cause the debt ceiling X date to move up if Congress doesn't act.

Alarming IRS Forecast Reveals a $500B Collapse in Revenue

US Internal Revenue Service (IRS) collections account for 95% of annual federal revenue. However, collections this year could drastically fall by 10% or £387.22 billion ($500 billion) compared to a year ago amid major workforce downsizing and dynamic taxpayer behaviour, reported The Washington Post, citing sources from the IRS and the US Treasury Department.Federal officials expect reduced revenue this year as the April 15 tax filing deadline ne…

The American Independent: Trump’s IRS Cuts Will Make It Easier for Rich Americans to Avoid Paying What They Owe

Experts say staffing cuts at the Internal Revenue Service will make it easier for wealthy tax evaders to avoid paying what they owe to the U.S. Treasury each year. In addition to costing the government billions of dollars in owed revenue, they say cuts by President Donald Trump’s administration will likely mean more audits for working Americans and worse customer service.

DOGE cuts could lead to $500 billion drop in US tax revenue, officials say

In a new report, officials said the expected drop is linked to changing taxpayer behavior and President Donald Trump's cuts to parts of the IRS

IRS will lose millions as Trump and Musk scurry to cut taxes for rich pals

A new report released on Monday projects that the IRS is set to lose over $500 billion in tax revenue over the next tax season as a result of actions taken by President Donald Trump and his top ...

Trump’s IRS cuts may cost $500 billion in lost tax revenue as taxpayers exploit system

Cuts to IRS staffing and taxpayer behavior are contributing factors in the anticipated revenue decline.