Tax Revenue May Drop Over $500 Billion As More Americans Skip Payments - video Dailymotion

Skip to player Skip to main content Skip to footer

3/25/2025

Tax revenue is expected to fall more than 10% by April 15th, according to CNBC. The drop possibly exceeds $500 billion and stems from more individuals and businesses not filing or paying taxes. The sources tied the trend to changing taxpayer behavior and Trump-era IRS cuts. Thousands of IRS jobs are also at risk due to Elon Musk’s Department of Government Efficiency spending reductions, which experts warn could disrupt tax season.

Category

Transcript

Display full video transcript

00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Tax revenue is expected to fall by more than 10% by April 15th, according to CNBC.

00:06The drop possibly exceeds $500 billion, stems from more individuals and businesses

00:11not filing or paying taxes.

00:13Sources tie the trend to changing taxpayer behavior and Trump-era IRS cuts.

00:17Thousands of IRS jobs are also at risk due to Elon Musk's Department

00:20of Government Efficiency spending reductions, which experts warn could disrupt taxes.

00:25For all things money, visit Benzinga.com slash GSTV.

Recommended

0:39

Up next

'Trump's Tariffs Will Drain Retirement Savings, Push Us To The Brink Of Recession,' Says Nancy Pelosi While Quoting Ronald Reagan

0:47

IRS Collects Over $1 Billion in Tax Debt from High-Income Individuals, Expands Scrutiny on Wealthy Americans with $250,000 in Tax Debt

0:36

Tesla Shares Slump as White House Confirms 145% Tariff on China

0:35

Trump Pitches Major Tax Reform That Could Cut Taxes for More Than 90 Million Americans

0:44

Trump Wants No Tax For Americans Making Less Than $150,000 A Year, Says Howard Lutnick: 'That's What I'm Working For'

0:35

Wealthy Individuals Are Getting Away With Not Filing Tax Returns Using This Loophole. Here's How The IRS Is Cracking Down

0:46

Peter Schiff At Odds With Bernie Sanders Over Taxing Rich, Calls Upon Democrats To Cut Taxes: 'They're Already Paying 40% Of The Federal Income Tax'

0:40

Trump and Harris Unveil Diverging Tax Plans, But Which Plan Can Address the Nation's Fiscal Challenges?

0:43

Treasury and IRS Crack Down on Tax Loophole. Over $50 Billion in Revenue Expected.

0:46

IRS Announces News Federal Income Tax Brackets

0:36

Top-Ranked Advisors Prepare For 'Tax Cliff' In 2025 When Trump Tax Cuts Are Set To Expire

0:42

Payments of Up to $1,400 Coming for 1 Million Eligible Taxpayers, IRS Confirms

0:40

Trump Reportedly Considers Raising Taxes On Ultra-Wealthy, Striking Rare Common Ground With Ideological Rivals Bill Gates, Bernie Sanders

2:29

IRS unveils new 2025 tax brackets

21:10

A Deep Dive On IRS Layoffs And DOGE’s Access To Taxpayer Information

0:31

DOGE Head Elon Musk Says Cutting 15% Of Federal Spending Is 'Quite Achievable' Through Fraud And Waste Audits

0:42

Trump's Economic Proposals Could Add Nearly 5 Times More to the Federal Deficit Than Harris's. Economists Warn Trump Tariffs Could Reignite Inflation.

0:45

Trump's Tax Cuts Are Set to Expire in 2025, Affecting Nearly 62% of Taxpayers

0:47

Trump Says He Will End Taxes On Overtime Pay, But Economist Peter Schiff Says There Is A Fly In His Ointment

1:49

US presidential debate: 'I don’t want to pay tax', says Trump on NYT report

0:35

IRS Begins Layoffs During Tax Season, Plans To Cut 25% Of Workforce To Boost Efficiency

16:52

Unclaimed Tax Refunds Exceed $1 Billion: Are You Missing Out on Money?_

0:38

Trump's Tax Cuts Are Expiring Soon. Here's Why Small Businesses and Families Are Fighting for Its Key Provisions as the November Election Looms

0:36

IRS Forecasts Growing Tax Gap in the US, Reaching $688 Billion in 2021

1:02

Mark Cuban's $288M Wire Transfer To IRS: A Veiled Jab At Trump?