Miguel Afonso Caetano"Senior tax officials are bracing for a sharp drop in revenue collected this spring, as an increasing number of individuals and businesses spurn filing their taxes or attempt to skip paying balances owed to the Internal Revenue Service, according to three people with knowledge of tax projections.
Treasury Department and IRS officials are predicting a decrease of more than 10 percent in tax receipts by the April 15 deadline compared with 2024, said the people, who spoke on the condition of anonymity to share nonpublic data. That would amount to more than $500 billion in lost federal revenue; the IRS collected $5.1 trillion last year. For context, the U.S. government spent $825 billion on the Defense Department in fiscal 2024.
“The idea of doing that in one year, it’s hard to grapple with how meaningful of a shift that represents,” said Natasha Sarin, president of the Yale Budget Lab and a senior Biden administration tax official.
The prediction, officials say, is directly tied to changing taxpayer behavior and President Donald Trump’s rapid demolition of parts of the IRS. Senior tax agency officials issued detailed warnings about those outcomes to the incoming Trump administration before the president took office, according to records obtained by The Washington Post."
https://www.washingtonpost.com/business/2025/03/22/irs-tax-revenue-loss-federal-budget/
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