Tax season just got even more complicated. The administration's plans to make more cuts at the IRS are part of the Trump administration’s efforts to shrink the size of the federal workforce through Elon Musk’s Department of Government Efficiency.
The IRS gets a bad rap for being a historically unpopular agency. But in recent years, the revenue collection agency started to improve its efficiency.
After receiving tens of billions of dollars from the 2022 Inflation Reduction Act (IRA), the agency’s customer service wait times went down, its tech initiatives eased the filing process for some, and its audits led to the recovery of more than $1 billion in unpaid taxes from wealthy Americans and corporations.
But that progress is in jeopardy as the Trump administration looks to further downsize the federal government. How will the Trump administration impact tax refund processing? Will there be a delay in tax refunds? How will Americans feel the impact of a downsized IRS? We’ll take a look at how cuts at the federal level could once again impact the average American, on the next Charlotte Talks.
GUESTS:
Mike Kaercher, deputy director of the Tax Law Center at NYU Law
Lora Kelley, associate editor at The Atlantic and an author of the Atlantic Daily newsletter
Vaishali Shah, lecturer in finance at Elon University and founder of Copper Seed, a financial coaching firm
