Neil Freiman
๐ค SpeakerAppearances Over Time
Podcast Appearances
But if you are trying to slip something by the IRS, your chances haven't been this good in years.
As the Wall Street Journal reports, the Trump administration has been scaling back tax enforcement.
canning auditors and investigators who hunt down tax cheats and collect unpaid bills.
Perhaps there's no agency that's been dojified more than the Internal Revenue Service.
In the past year, the IRS has lost 27% of its workforce and about three-quarters of its senior leadership, according to Brookings.
Speaking of leadership, there's been more turnover than a retail space and a college town.
The IRS has gone through seven commissioners and the current leader is doing it part time.
He's also heading up Social Security.
It all amounts to a reduced focus on enforcement and revenue for the federal government.
Inflation adjusted spending on tax enforcement is the lowest in at least two decades, says the Progressive Center on Budget and Policy Priorities.
As a result, audits of people with at least $10 million are projected to drop 39% this year after falling 9% the year before that.
In fiscal 2025, the IRS collected less direct revenue from audits and appeals than in any year since at least 2012, per the Journal.
Toby, there's never been a better time to tell the IRS.
Catch me if you can.
Yeah, an $861 billion hole.
Here's what the Trump administration is saying.
They want to shrink the federal workforce across the board.
And the IRS chief executive, Fran Bisignato, told a congressional committee that, look, we can do more with less.
We are going to put AI and technology first here.
And we think that will be better, more efficient outcomes going forward when it comes to tax enforcement.