IRS loses nearly 40% of its billionaire audit team as Donald Trump and Elon Musk push for deep cuts, America’s wealthiest celebrate

Global High Wealth unit, has seen a significant 38% loss in its workforce this year. This dramatic reduction follows the Trump administration’s efforts to shrink the federal workforce, according to recent data from the International Consortium of Investigative Journalists (ICIJ). Before these cuts, the office employed 353 people, but now it is down to just 220 employees. This decrease in staff is substantially higher than the overall loss rate at the IRS, which has impacted the unit’s ability to effectively audit the wealthiest Americans.

Unfinished Audits and Stalled Cases

The workforce reductions have left many ongoing audits of high-net-worth individuals unfinished, leading to cases that are either stalled or closed. Multiple current agents in the high-wealth division, speaking under the condition of anonymity, expressed concerns that the situation has caused significant disruptions. These audits are vital in ensuring that the ultrawealthy pay their fair share of taxes, as they often rely on complex tax structures and loopholes.

The loss of so many experienced agents has slowed the pace of audits and, in some cases, halted them altogether. The IRS had previously ramped up efforts to audit wealthy individuals under the 2022 Inflation Reduction Act, which allocated $80 billion in additional funding to bolster tax enforcement. However, Republican lawmakers have reduced this budget by half, and the IRS’s ability to carry out its audits is now under strain due to these workforce cuts.

Impact of Terminations and Buyouts

The Global High Wealth unit has been particularly impacted by the recent terminations. Many of the employees who lost their jobs were probationary staff members who had been hired under the Biden