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Above, President Trump is questioning the tax-exempt status of some universities and other groups, blurring lines intended to separate the IRS from politics. Below, the agency's senior ranks are thinning after waves of departures.In front of Faulkender is the challenge of implementing the administration's vision for shrinking and revamping the IRS. The basic idea: Rapidly replace people with computers and reduce reliance on contractors for technology and support. That is the agenda pushed by Elon Musk's Department of Government Efficiency, and it isn't substantially changing with Faulkender's arrival, despite friction between Musk and Treasury Secretary Scott Bessent over Faulkender's appointment.Danny Werfe","market":"sg","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"en","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":null,"symbols":["US7Y.BOND","US6M.BOND","BK4205","US5Y.BOND","IRS","US10Y.BOND","US12M.BOND","US30Y.BOND","US2Y.BOND","US3Y.BOND","BK4233"],"gpt_icon":1},{"id":"2530715197","title":"With all the changes at the IRS, how likely are you to be audited? It’s unclear","url":"https://stock-news.laohu8.com/highlight/detail?id=2530715197","media":"CNN Business","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2530715197?lang=en_us&edition=fundamental","pubTime":"2025-04-25 23:57","pubTimestamp":1745596650,"startTime":"0","endTime":"0","summary":"No one wants to be audited by the IRS. And, in fact, very few US taxpayers have been in recent years.Less than 1% of all returns filed between 2013 and 2021 had been audited as of the end of fiscal year 2023, according to IRS data. More specifically, only 0.44% of individual returns and 0.74% of corporate ones.That’s partly because the agency for many years did not have a consistent level of resources — financial, human or technological — to do more. The IRS had been in the process of beefing up its enforcement efforts in the past two years thanks to funding from the Inflation Reduction Act, but a substantial amount of that funding has since been clawed back by Congress.And during his confirmation hearing in January, in response to questioning from Senator Ron Wyden about tax cheats, particularly wealthy ones, Bessent said, “f there is some large mother lode there, then to figure out how to crack that, whether it’s through AI or some other means, that","market":"nz","thumbnail":null,"type":0,"news_type":0,"thumbnails":[],"rights":null,"property":[],"language":"en","translate_title":"","themeId":null,"theme_name":"","theme_type":"","isJumpTheme":false,"source_url":"https://edition.cnn.com/2025/04/25/business/how-likely-are-you-to-be-audited-by-the-irs/index.html","is_publish_highlight":false,"source_rank":0,"column":"","sentiment":"0","news_top_title":null,"news_tag":"","news_rank":0,"length":0,"strategy_id":0,"source":"cnn_highlight","symbols":["BK4585","BK4178","BK4548","BK4588","BK4233","BK4122","BK4561","IRS","BK4205","W","BK4524"],"gpt_icon":0},{"id":"2529615685","title":"Musk and the US Treasury Secretary engaged in a heated argument at the White House last week","url":"https://stock-news.laohu8.com/highlight/detail?id=2529615685","media":"Blockbeats","labels":[],"top":-1,"itemType":null,"share":"https://ttm.financial/m/news/2529615685?lang=en_us&edition=fundamental","pubTime":"2025-04-24 10:06","pubTimestamp":1745460360,"startTime":"0","endTime":"0","summary":"BlockBeats News, April 24th, according to AXIOS citing sources familiar with the matter, a heated argument broke out last Thursday in the West Wing corridor of the White House between the Director of the Department of Government Efficiency  Musk and the US Treasury Secretary Benart regarding personnel appointments at the IRS. The loud confrontation caught the attention of President Trump and other officials present.An eyewitness said, \"Two billionaires, middle-aged men, turned the White House West Wing into a WWE ring.\" \"They didn't come to blows in the Oval Office, but the President witnessed the conflict with his own eyes. Then the two continued their dispute into the corridor, and another intense argument broke out,\" said one of the witnesses. Last Thursday, Benart and Musk faced off at a meeting in the White House, with one source saying that soon after, \"F-bombs started flying.\" Benart criticized Musk for overcommitting to budget cuts for DOGE but not following through. 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The IRS is shedding tens of thousands of workers and dialing back enforcement. It is also coming under pressure to pursue administration priorities, such as sharing data with immigration authorities and revoking the tax-exempt status of Harvard University.Bessent recently spoke to Trump about Shapley's appointment to run the tax agency, according to a person familiar with the matter. 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