Officials from the IRS and finance department expect tax revenue to decrease by more than 10% by April 15, compared to the previous year, the Washington Post reported on Saturday and quoted three people with knowledge of the situation.
The loss of tax revenue is expected because more individuals and companies do not submit taxes or try to avoid the credit owed to the IRS. The amount of the lost federal revenue could exceed 500 billion US dollars, according to the newspaper.
Officials said that the prediction was directly connected to the IRS with the moving of taxpayer behavior and the cuts of President Donald Trump.
It is expected that thousands will lose their work in the agency as part of reducing the Efficiency Ministry of Elon Musk from Elon Musk. Experts have warned that the cuts during the tax season could significantly influence the filers.
The IRS has also found an increased chatter online from people that they do not pay taxes or aggressive claims this year, for which they are not justified in a gambling, the contribution reported.
The finance department told the newspaper that the story was “sensational and groundless” and said that the anonymous sources were “out of control”.
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