Many changes lay ahead as President-elect Donald Trump gears up to take office on Jan. 20. Among the changes, Trump announced he’ll “create the External Revenue Service (ERS) to collect our tariffs, duties and all revenue that comes from foreign sources.” Currently, the IRS collects certain foreign revenue, and the U.S. Customs and Border Protection agency collects tariffs. It’s not clear whether the ERS will handle all of these collection functions. Trump said that one reason for the new agency would be to break from overreliance on the IRS. Critics of the plan say creating an ERS goes against Trump’s plan to streamline government operations. Stay tuned for more details.
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