Tax revenue is expected to fall more than 10% by April 15th, according to CNBC. The drop possibly exceeds $500 billion and stems from more individuals and businesses not filing or paying taxes. The sources tied the trend to changing taxpayer behavior and Trump-era IRS cuts. Thousands of IRS jobs are also at risk due to Elon Musk’s Department of Government Efficiency spending reductions, which experts warn could disrupt tax season.
