Over the past few months, I have concluded that the IRS is clearly imploding. Since biblical times, tax collectors have been hated, so that built-in predisposition undoubtedly makes many sympathetic to cutting IRS resources.

What they forget is that the IRS is an essential component to a functioning government. A huge part of our deficit and national debt problems are revenue related.

Until recently, the IRS generally lacked the resources to effectively audit multinational corporations, high-net-worth individuals and partnerships that are used for aggressive tax avoidance purposes.

When IRS funding was restored during the Biden administration, the IRS realized it would take years to develop its audit capabilities, so it hired experienced tax professionals from large accounting firms and law firms who had the ability to effectively examine complicated returns in which aggressive tax positions were taken.

Based on my conversations with colleagues at large accounting firms and the IRS, once these new IRS agents hit the ground running, they were enormously successful in identifying tax deficiencies.

Furthermore, they were well-organized and were closing out cases with greater speed and efficiency than that of legacy IRS agents.

Then in February,........

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