IRS’s Paperless Processing Initiative To Save $2.6 Trillion In U.S. Federal Deficit

A container ship sits docked at the Port of Oakland on June 07, 2023, in Oakland, California. According to a report by the U.S. Commerce Department, the U.S. trade deficit increased by the most in eight years as imports of goods rebounded while energy products exports declined. The increase has pushed the trade gap to the highest level in six months and could potentially lower the gross domestic product this quarter by as much as 2.5 percentage points. (JUSTIN SULLIVAN/GETTY IMAGES)

U.S. Treasury Secretary Janet Yellen commended an initiative this week by the IRS that is projected to dwindle the federal deficit by $2.6 trillion over the next decade.

A container ship sits docked at the Port of Oakland on June 07, 2023, in Oakland, California. According to a report by the U.S. Commerce Department, the U.S. trade deficit increased by the most in eight years as imports of goods rebounded while energy products exports declined. The increase has pushed the trade gap to the highest level in six months and could potentially lower the gross domestic product this quarter by as much as 2.5 percentage points. (JUSTIN SULLIVAN/GETTY IMAGES)