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How The IRS Layoffs Will Impact Your Taxes And Refunds

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Thousands of employees at the Internal Revenue Service have lost their jobs in recent months as part of widespread cuts to federal spending by Elon Musk’s Department of Government Efficiency, or DOGE. The layoffs could impact essential functions at the agency during the height of tax season, from audits and collection enforcement to processing tax returns and refunds.

Chapters:
0:00 Introduction
1:27 Cutting the IRS workforce
4:17 Impact on tax audits, collection and enforcement
6:30 What’s next?

Produced and Shot by: Jeff Huang
Edited by: Andrea Miller
Senior Director of Video: Lindsey Jacobson
Additional Footage: Getty Images

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How The IRS Layoffs Will Impact Your Taxes And Refunds

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AMD CEO Lisa Su: Security Is ‘Job One’ For High-Performance Processors | CNBC

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Advanced Micro Devices CEO Lisa Su speaks with CNBC’s Jon Fortt about the current security risks around high-performance chips and how it is affecting the company and consumers.
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AMD CEO Lisa Su: Security Is ‘Job One’ For High-Performance Processors | CNBC

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How Kodak is trying to turn things around

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Film company Eastman Kodak has seen its fair share of financial struggles, but CEO Jim Continenza is determined to make it a success story.

CNBC’s Laya Neelakandan has the details.

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Microsoft Chief Legal Officer Brad Smith On Security & Dealing With China | CNBC

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Microsoft President & Chief Legal Officer Brad Smith sits down with CNBC’s Josh Lipton to talk about cyber security, new products, Facebook’s data scandal and trade tensions with China.
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Microsoft Chief Legal Officer Brad Smith On Security & Dealing With China | CNBC

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To keep growing, Best Buy wants to go smaller

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Best Buy is at a critical juncture as the consumer electronics retailer aims to revitalize its performance under incoming CEO Jason Bonfig, who spoke exclusively with CNBC about his strategy for the company.

Find the full report in related video.

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How AI is influencing the Federal Reserve

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The Federal Reserve is forecasting relatively strong GDP growth in 2026, attributable to gains in worker productivity.

One long-run economic model indicates that generative AI may have dramatic effects on both labor productivity and employment.

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