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Trump, internal revenue service and lawrence summers

Summers warns of $1T revenue loss risk from Trump 'attack' on IRS

The former Treasury secretary envisions an avalanche of noncompliance as the federal tax agency weathers massive workforce reductions and a string of walkouts in its leadership.

Stocktwits on MSN · 3d

Larry Summers Says Trump's 'Misguided' And 'Wanton' Attack On IRS Could Dent Tax Revenue

Economist Larry Summers does not like recent developments at the Internal Revenue Service (IRS), the federal agency responsible for collecting federal taxes. President Donald Trumpannounced last week that Deputy Treasury Secretary Michael Faulkender would be the acting commissioner for the IRS,

Bloomberg on MSN · 2d

Former Treasury head Summers says Trump ‘attack’ on IRS risks $1 trillion revenue hit

Former Treasury Secretary Lawrence Summers said that the Trump administration’s moves to downsize the Internal Revenue Service, along with other changes, are likely to incentivize reduced tax-payment

Shedding thousands of staff and several interim leaders, the IRS faces turmoil under Trump

That’s because Werfel — nominated by former President Joe Biden — was less than two years into his five-year term stipulated ...

2don MSN

IRS turmoil: Leadership churn, worker exodus and threats to groups’ tax-exempt status roil agency

The height of tax season was the height of turmoil at the IRS. The agency has churned through acting directors and is ...

CBS News10d

IRS could cut up to 40% of workforce, memo indicates

The IRS is planning to cut up to 40% of its workforce after Tuesday marked the official end of tax filing season, according to an internal memo ... the IRS to collect revenue and serve taxpayers ...

7don MSN

Trump wants to 'abolish' the IRS and replace federal income tax revenue with tariffs on imports — how would such a move affect middle-class Americans?

U.S. President Donald Trump plans to replace income taxes with tariffs, but what does that mean for the average middle-class ...

2don MSN

N.C. Revenue offers penalty relief for hurricane victims after IRS extension

The N.C. Department of Revenue (NCDOR) will not assess (or will remove) specific late action penalties on selected state tax ...

4don MSN

Trump says tariff revenue could replace income taxes. Why economists disagree.

President Donald Trump says "there's a real chance" tariff revenue can replace the income tax. Economists say a full ...

9don MSN

Donald Trump administration asks Internal Revenue Service to strip Harvard of tax-exempt status over campus antisemitism

The Trump administration formally requested the IRS to revoke Harvard University's tax-exempt status, alleging a failure to ...

Tribune Online on MSN8d

Illegal revenue collections have no place in Kogi — Official

Kogi State Internal Revenue Service (KGIRS) has again warned illegal revenue collectors in the state to desist from the unconstitutional act to avoid facing the full wrath of the law.The Executive ...

JD Supra2d

IRS Proposes Changes to 401(k) Catch-Up Contributions

Our Employee Benefits & Executive Compensation Group discusses what plan sponsors and fiduciaries need to know about the ...

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