IRS money woes
WASHINGTON- The Commissioner of the IRS warned his employees the agency could shut down for two days due to budget cuts.
John Koskinen said by email the agency will reduce taxpayer services and conduct fewer audits and some tax refunds could be delayed. Congress cut his budget by $346 million to the lowest level of funding since 2008.
The IRS will now extend a partial hiring freeze and Koskinen says fewer enforcement agents will cost the government at least $2 billion in recoverable tax revenue.