{beacon} Energy & Environment Energy & Environment The Big Story Trump: U.S. has control of large slice of Venezuela's oil President Trump said Friday evening that there will be “majority U.S. control” of a large swath of Venezuela’s oil…
Page F2From§Eachthe early evening edition — 31 August 2026
IRS audit revenue plummets under Trump as US claims control of Venezuela's oil
IRS audit revenue has dropped under Trump, watchdog finds, while the US claims control of a large slice of Venezuela’s oil. The ledger shows less money coming in from audits, and more attention paid to oil assets overseas. On one side, the IRS is collecting less, leaving domestic coffers lighter. On the other, the administration touts new-found control of foreign oil. The gap is clear: less revenue from taxes, more from oil claims—each dollar moves, but does not multiply. The reconciliation is simple: domestic enforcement gets lighter, foreign interests get heavier. The audit shortfall is not a surprise, hon; the oil claim is not an accident. The two rails never meet, but the gap between them is wide enough to drive a drilling rig. The numbers don’t lie—money goes somewhere, just not into your refund.
“They say the IRS can’t collect anymore, but somehow the US claims a chunk of Venezuela’s oil. That’s not a shortfall, it’s a reallocation: money out of audits, money in from abroad, and you’re left footing the bill for both.”
“The drop in IRS audit revenue is a sign of streamlined efficiency, and the US controlling Venezuelan oil is just good diplomacy. Did I say streamlined? I meant—well, it’s about priorities, not lost revenue. Probably.”
The receipts
The I.R.S. lost roughly a quarter of its employees since President Trump took office, hampering the agency’s ability to conduct audits.
This page is a back-issue: the story as it ran, receipts as they were. The current edition is at the front.