The tax man goes on a diet under President Donald Trump's proposed "skinny budget," and that could affect how much money the IRS collects — and a sharp cutback in enforcement and customer service, NBC News reports.
The budget calls for a 14 percent reduction in the IRS' operating budget, andthat follows a 17 percent drop in funding since 2010. That's despite the agency paying for itself — it contributes $4 for every dollar of funding it receives.
"It's penny-wise and pound-foolish," said Robert Weinberger, a senior fellow at the Aspen Institute's Initiative on Financial Security. "They'll lose billions in revenue in order to save a few hundred million dollars."
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The impact of further cuts will be fewer audits, which may increase the temptation to cheat, and fewer customer service agents who can answer taxpayers' questions.