The IRS plans to lay off thousands of employees, which could affect tax collections. The move comes at a critical time of tax filing season.

IRS is preparing to lay off thousands of employees, a decision that could affect its ability to collect taxes. The layoffs come as President Donald Trump and Elon Musk plan to overhaul the federal government, which they say is oversized and inefficient. Officials at the Office of Personnel Management have ordered all federal agencies to lay off probationary employees.