- Mark Cuban scraps his meme coin idea, saying the space is too shady and unfair for him to bother.
- Argentina’s President Javier Milei is in hot water, facing fraud charges after the Libra token collapsed.
- Meme coins are still the Wild West, with the SEC admitting most won’t even fall under its regulation.
The IRS is about to get a lot leaner—and not in a good way. On Thursday, the agency will cut loose around 6,700 workers, a restructuring move that couldn’t come at a worse time: peak tax-filing season.
According to someone with knowledge of the situation, the layoffs will primarily target probationary employees—those who have been with the agency for less than one to two years. These workers don’t have the same job security as long-term employees, making them easier to let go.
A Major Cut to IRS Manpower
For context, the IRS has around 17,000 probationary employees in total. That means nearly 40% of them are getting axed. And with tax season already being one of the most stressful times for both the agency and taxpayers, this move is likely to put extra strain on IRS resources.
What does that mean for you? Possibly longer wait times, more processing delays, and—if history is any guide—frustration for millions of Americans trying to file their taxes.
While the IRS hasn’t publicly commented on the layoffs yet, the timing and scale of this shake-up raise serious questions about the agency’s ability to keep up with its already overwhelming workload.
