Currencies33045
Market Cap$ 2.81T+0.58%
24h Spot Volume$ 25.45B+8.28%
DominanceBTC60.00%-0.49%ETH6.87%+0.54%
ETH Gas0.33 Gwei
Cryptorank
MainNewsIRS To Lay O...

IRS To Lay Off Thousands Starting Next Week


Feb, 14, 2025
1 min read
by Jaxon Gaines
for Watcher.Guru
IRS To Lay Off Thousands Starting Next Week

The Internal Revenue Service (IRS) will reportedly begin thousands of layoffs of probationary employees as soon as next week. Amid President Donald Trump’s efforts to downsize the federal workforce, the IRS will significantly cut its numbers.

The Office of Personnel Management, the federal government’s human resources department, ordered agencies across the government this week to terminate probationary employees, who are relatively new to their positions, sources told the New York Times Friday. An exact number of employees that will be cut remains unknown, but the NYT expects thousands to be affected. The move is a dramatic one as tax season nationwide kicks off soon. Hundreds of millions of tax returns and filings may see delays in processing if the layoffs go into effect. However, US Treasury Secretary Scott Bessent told reporters last week that these effects may not take effect until after the Spring, avoiding a tax season disaster.

“So I don’t imagine anything’s going to go on at the I.R.S. until then or beyond,” he said. “We’re in the middle of the tax-filing season right now.”

Also Read: Coinbase, Aston Martin Announce Partnership Paid in Stablecoins

The IRS currently houses well over 100,000 employees. The agency received considerable attention by the Biden administration to expand and revitalize it. However, Republicans have long attacked the IRS, labeling them as villains to the middle class. Donald Trump in particular has targets the agency during the early stages of his second term as President. Specifically, Trump extended a hiring freeze for the IRS and is pushing to repurpose some of its agents to help with immigration enforcement.

IRS representatives have yet to share comments on the possible layoffs.

Read the article at Watcher.Guru

Read More

Ford Suspends Shipments to China Amid US Trade War

Ford Suspends Shipments to China Amid US Trade War

In what is a major development for the company, Ford has announced that it is halting...
Apr, 18, 2025
2 min read
by Watcher.Guru
US President Trump Exploring If He Can Fire Fed Chair Powell

US President Trump Exploring If He Can Fire Fed Chair Powell

Amid an ongoing rift between the White House and the Federal Reserve, US President Do...
Apr, 18, 2025
2 min read
by Watcher.Guru
MainNewsIRS To Lay O...

IRS To Lay Off Thousands Starting Next Week


Feb, 14, 2025
1 min read
by Jaxon Gaines
for Watcher.Guru
IRS To Lay Off Thousands Starting Next Week

The Internal Revenue Service (IRS) will reportedly begin thousands of layoffs of probationary employees as soon as next week. Amid President Donald Trump’s efforts to downsize the federal workforce, the IRS will significantly cut its numbers.

The Office of Personnel Management, the federal government’s human resources department, ordered agencies across the government this week to terminate probationary employees, who are relatively new to their positions, sources told the New York Times Friday. An exact number of employees that will be cut remains unknown, but the NYT expects thousands to be affected. The move is a dramatic one as tax season nationwide kicks off soon. Hundreds of millions of tax returns and filings may see delays in processing if the layoffs go into effect. However, US Treasury Secretary Scott Bessent told reporters last week that these effects may not take effect until after the Spring, avoiding a tax season disaster.

“So I don’t imagine anything’s going to go on at the I.R.S. until then or beyond,” he said. “We’re in the middle of the tax-filing season right now.”

Also Read: Coinbase, Aston Martin Announce Partnership Paid in Stablecoins

The IRS currently houses well over 100,000 employees. The agency received considerable attention by the Biden administration to expand and revitalize it. However, Republicans have long attacked the IRS, labeling them as villains to the middle class. Donald Trump in particular has targets the agency during the early stages of his second term as President. Specifically, Trump extended a hiring freeze for the IRS and is pushing to repurpose some of its agents to help with immigration enforcement.

IRS representatives have yet to share comments on the possible layoffs.

Read the article at Watcher.Guru

Read More

Ford Suspends Shipments to China Amid US Trade War

Ford Suspends Shipments to China Amid US Trade War

In what is a major development for the company, Ford has announced that it is halting...
Apr, 18, 2025
2 min read
by Watcher.Guru
US President Trump Exploring If He Can Fire Fed Chair Powell

US President Trump Exploring If He Can Fire Fed Chair Powell

Amid an ongoing rift between the White House and the Federal Reserve, US President Do...
Apr, 18, 2025
2 min read
by Watcher.Guru