What Cuts to the IRS Could Mean for Taxpayers

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  This episode is sponsored by Northern Trust Wealth Management.

• 00:03

  There is more to being a successful entrepreneur than just good business practices.

• 00:07

  What is it about an entrepreneur's childhood that helped fuel their entrepreneurial spirit?

• 00:12

  What are entrepreneurs doing to cultivate this spirit in their own children and build a legacy beyond their business?

• 00:17

  Tune in each month to the Road to Why podcast by the Northern Trust Institute,

• 00:21

  where host Eric Shapaea dives deeper with leading entrepreneurs on these topics and more.

• 00:26

  Find the Road to Why where you listen to your favorite podcasts.

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  Here's your money briefing for Wednesday March 19th.

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  I'm Julia Carpenter for the Wall Street Journal.

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  Earlier this week, the Trump Administration announced planned cuts to the Internal Revenue Service.

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  The IRS has already seen a 7% reduction in staff, a hiring freeze, and a walk back from the Biden era expansion.

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  So what could these new changes mean for taxpayers?

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  Well, the IRS be half the size, the recorders of the size, what's it going to look like in a year or two years,

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  and what's that going to mean for this whole tax ecosystem that's out there?

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  We'll talk with WSGA reporter Richard Rubin about how these cuts could affect audits, enforcement, and more.

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  That's after the break.

• 01:24

  This episode is sponsored by Northern Trust Wealth Management.

• 01:27

  There is more to being a successful entrepreneur than just good business practices.

• 01:32

  What is it about an entrepreneur's childhood that helped fuel their entrepreneurial spirit?

• 01:36

  What are entrepreneurs doing to cultivate this spirit in their own children and build a legacy beyond their business?

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