7 Apr 2025

IRS Predicts $500 billion Drop in Revenue After DOGE Cuts

by Bonnie | | 0

Internal Revenue Service projections predicted a drop of half a trillion dollars ($500 billion) in tax revenue by 15 April 2025 in the wake of mass firings by Elon Musk’s “Department of Government Efficiency.”

Ordinarily, tax receipts would be somewhat higher than last year. The anticipated drop would put tax receipts about 10% below the same time in 2024.

DOGE is a subset of a White House IT team, not a government department.

DOGE eviscerated staffing for the portion of the IRS that performs audits, especially audits of wealthy taxpayers and large corporations who have the most complex tools for avoiding or evading taxation. Avoidance is legal. Evasion is not. With hamstrung staffing for audits, the IRS will not be able to pursue recovery of much evaded tax.

The IRS has noticed an increase in online traffic by people saying they do not plan to pay taxes this year. They expect the IRS will not be able to audit them. Other factors such as the impact of natural disasters or some taxpayers choosing to take a six month extension on the filing deadline are not enough to account for the projected reduction in revenue.

The anticipated reduction of $500 billion is equivalent to 61% of the country’s $820 billion annual military budget.

Click here for more details.

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