List of Flash News about IRS tax audit cuts
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2025-05-07 11:38 |
IRS Loses 1 in 3 Tax Auditors in DOGE Cuts: Crypto Tax Enforcement at Risk, Watchdog Finds
According to @StockMKTNewz, a recent watchdog report highlighted by CNBC reveals that the IRS has lost nearly one in three tax auditors due to budget cuts linked to DOGE-related funding reductions (Source: CNBC via @StockMKTNewz, May 7, 2025). This significant decrease in audit staff directly impacts the agency's ability to enforce tax compliance on cryptocurrency transactions, including Dogecoin and other digital assets. As a result, market participants may see reduced risk of immediate IRS enforcement, potentially increasing short-term trading activity and volatility in the crypto market. However, long-term risks around regulatory crackdowns remain, especially as tax compliance remains a high priority for US policymakers. |