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IRS Tax Enforcement Initiative Crumbles, $100 Billion Lost

1/8/2026

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Summary

Story summary

The Internal Revenue Service (IRS) launched a plan about two years ago to strengthen tax-law enforcement, targeting private equity and real estate firms.
The effort uncovered tax shelters costing the public an estimated $100 billion over a decade.
Since U.S. President Donald Trump returned to office, the initiative has deteriorated.
Most senior leaders have left.
Audits of large partnerships have dropped by 80-90%.

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Story summary

The Internal Revenue Service (IRS) launched a plan about two years ago to strengthen tax-law enforcement, targeting private equity and real estate firms.
The effort uncovered tax shelters costing the public an estimated $100 billion over a decade.
Since U.S. President Donald Trump returned to office, the initiative has deteriorated.
Most senior leaders have left.
Audits of large partnerships have dropped by 80-90%.