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.
things like this are why anyone saying the right wing is fiscally responsible should be laughed out of the room
“Republicans are fiscally responsible” = “You eat seven spiders every year in your sleep”
It’s just something people will keep repeating until the end of time because they don’t have anything important to say.
