Tax revenue could drop by 10 percent amid turmoil at IRS
- Florent DEPOILLY
- Mar 24
- 1 min read
In a nutshell
Senior tax officials are predicting a decrease of more than 10 percent in tax receipts by the April 15 deadline due to changing taxpayer behavior and rapid reductions at the IRS under the Trump administration.
The administration has fired nearly 20,000 agency employees, leading to a reduction in investigations of high-value corporations and taxpayers.
Experts believe this drop in revenue could force the government to borrow more money to cover the costs of federal services.
Read more: MSN
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