In a major move to overhaul the Internal Revenue Service (IRS), President-elect Donald Trump’s newly established Department of Government Efficiency (DOGE), co-led by tech billionaire Elon Musk, is set to audit the agency.
Gonna happen https://t.co/QvYyGKvr2n
— Elon Musk (@elonmusk) November 27, 2024
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This move follows Musk’s vocal concerns over government spending and inefficiencies, aiming to streamline operations and eliminate waste.
Musk, alongside entrepreneur Vivek Ramaswamy, has taken on the task of reducing federal waste and reforming government spending.
One of their first targets is the IRS, which has long faced criticism for inefficiencies in its operations and the handling of taxpayer funds.
The goal of the audit is to uncover any operational shortcomings and make recommendations for reform.
In a poll conducted on X (formerly Twitter), Musk asked users whether the IRS’s budget should be increased, decreased, or eliminated. Over 60% of the 200,000-plus respondents voted to eliminate the IRS budget entirely, with only 5.6% supporting an increase and nearly 30% opting for a decrease.
The IRS just said it wants $20B more money.
Do you think it’s budget should be:
— Elon Musk (@elonmusk) November 27, 2024
Well, the public has made their view clear … https://t.co/47IGWYpjCs
— Elon Musk (@elonmusk) November 28, 2024
Musk’s inquiry follows a recent push from Treasury Department officials, who urged Congress to provide the IRS with an additional $20 billion to support its operations.
Musk’s call for greater government efficiency goes beyond the IRS audit. As part of his mandate at DOGE, Musk and Ramaswamy aim to cut at least $2 trillion from the federal budget.
Musk has been outspoken about government spending, calling for a reduction in waste across federal agencies.
This push is seen as part of the broader effort by the Trump administration to rein in excessive spending and increase accountability at all levels of government.
The IRS audit is just one of the first steps in what is expected to be a thorough review of federal agencies under the new leadership.
By focusing on the IRS, Musk and the DOGE team hope to address a longstanding issue with inefficiencies in the agency, which has been given more responsibilities over the years without proper scrutiny.
The incoming administration’s aim is to streamline government functions, making them more effective and transparent.
The conversation surrounding the IRS has recently become more contentious, especially after Treasury Department Deputy Secretary Wally Adeyemo’s plea for an additional $20 billion to be allocated to the IRS.
Adeyemo warned that without this funding, the agency would be forced to halt hiring and reduce enforcement operations, leading to an increase in the national deficit.
According to Adeyemo, the lack of funding would result in a decrease in audits for wealthy individuals and corporations, which he claims would add approximately $140 billion to the deficit.
This request for additional IRS funding comes in the wake of a shortfall created by a provision in stopgap legislation passed in September.
The legislation, designed to keep the federal government running through December, included a $20 billion cut to the IRS’s enforcement budget.
While some have backed the call for more IRS funding, critics argue that the agency’s practices have long been inefficient, and further funding could exacerbate the problem.
Musk’s approach with DOGE, including a focused IRS audit, stands in contrast to the calls for more money to be funneled into the agency.
Simplifying the tax code will increase productivity, instead of incentivizing bizarre tax-avoidance behavior https://t.co/ElMgps0tQt
— Elon Musk (@elonmusk) November 27, 2024
Musk’s mission is clear: reduce the size of the federal government and its agencies while holding them accountable for their spending and actions.
As the DOGE team moves forward with their audit of the IRS, there are high hopes for significant reform within the agency.
The goal is not only to improve efficiency but also to make the IRS more transparent and accountable to the American people.
With Musk at the helm, there is a strong push to reduce waste and ensure that taxpayer money is being used effectively.
This audit is part of a broader initiative by the Trump administration to rein in government spending and restore accountability across federal agencies.
Musk’s efforts, combined with the backing of President-elect Trump, represent a significant step toward achieving a more efficient, transparent, and accountable federal government—one that reflects the principles of fiscal responsibility and national renewal.
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Deleting the IRS is not enough … the Federal Reserve has to go along with them. When we stop generating interest due to the Federal Reserve’s function that the US Treasury could perform, then we don’t need the IRS to collect that interest from us.