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IRS recovers $4.7 billion in back taxes, braces for cuts under Trump and GOP majority

The IRS has successfully recovered $4.7 billion in back taxes from wealthy individuals and corporations, as reported by PBS NewsHour. This effort was part of a broader initiative to ensure tax compliance among high-income earners and large corporations. However, the IRS is now facing potential budget cuts under the Trump administration and the GOP-led Congress, which could impact its ability to continue such enforcement activities. These proposed cuts come at a time when the IRS has been criticized for its enforcement practices and funding levels, potentially hampering its capacity to pursue tax evasion and ensure fair tax collection. The article discusses the implications of these budget constraints on the IRS's operations and its future enforcement capabilities.

Read the Full PBS Article at:
[ https://www.pbs.org/newshour/politics/irs-recovers-4-7-billion-in-back-taxes-braces-for-cuts-under-trump-and-gop-majority ]