Trump's job cuts are forcing the IRS to cancel several large audits, which could result in tens of billions in lost revenue for the government

A sign on the Internal Revenue Service building (Credit: Tom Williams/CQ-Roll Call, Inc via Getty Images)

• Job cuts at the IRS are decimating the audit division. That could result in tens of billions of dollars in lost revenue for the government. The cuts come after the Biden administration worked to staff up the IRS and pursue cases against high-earning individuals and corporations.

The Internal Revenue Service could be losing some of its teeth.