This is Washington Edition, the newsletter about money, power and politics in the nation’s capital. Today, congressional correspondent Erik Wasson looks at the potential impact of cuts at the IRS. Sign up here and follow us at @bpolitics. Email our editors here.

It’s Tax Day, and the big question on the minds of some analysts is whether the mass layoffs at the IRS instigated by Elon Musk’s Department of Government efficiency will end up costing the government more revenue than DOGE saves in total.