Thinking of not filing your tax return amid IRS cutbacks? Penalties can be costly, experts say
As the IRS faces cutbacks, some taxpayers are weighing whether to file returns this season.
As the IRS faces cutbacks, some taxpayers are weighing whether to file returns this season.
But skipping your federal filing can be costly, experts say.
Josh Youngblood, an enrolled agent and owner of The Youngblood Group, a Dallas-based tax firm, said he’s had a few clients ask whether they need to file this year.
“I’m concerned we’re going to see more of this” amid IRS layoffs and calls to eliminate the agency, he said.
Last week, the IRS faced mass layoffs as Elon Musk’s Department of Government Efficiency, or DOGE, continued to seek federal spending cuts. Meanwhile, Commerce Secretary Howard Lutnick told Fox News that President Donald Trump wants to “abolish” the agency and replace it with tariffs.
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