IRS cuts could cost $500 billion: Is tax compliance about to collapse?
Blake Oliver
MARCH 29, 2025
The Washington Post reported that unnamed IRS officials are projecting a huge $500 billion drop in tax revenue this year due to DOGE's cuts to enforcement. I'm not buying that argument, and here's why. The IRS argues that if people think there's less tax enforcement, they won't pay up. But audit rates are already super low - less than 1% overall. So, would slightly reducing these already tiny percentages really cause a 10% revenue collapse?
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