Tax Revenue Decline Predicted

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Senior IRS officials

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Senior tax officials

Washington Post

•

Business

Business & Economics

Tax revenue could drop by 10 percent amid turmoil at IRS

Summary

Nutrition label

84% Informative

Treasury Department and IRS officials are predicting a decrease of more than 10 percent in tax receipts by the April 15 deadline compared with 2024 .

That would amount to more than $500 billion in lost federal revenue; the IRS collected $5.1 trillion last year .

The administration has moved to fire nearly 20,000 agency employees, specifically targeting new hires in taxpayer services and enforcement divisions.

A presentation was given by tax officials to the incoming Trump administration’s Treasury Department team.

The presentation included recommendations for how the Trump administration could gradually decrease IRS staff numbers without disrupting tax administration.

It called for digitizing tax-filing processes and automating the work of some employees in the customer service and compliance divisions.

But the presentation also compares current IRS operations to an “assembly line,” noting that much of the agency's productivity is dictated by staffing levels.

VR Score

Informative language

Neutral language

Article tone

semi-formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful