Breaking: President Trump Axes IRS Chief Billy Long in Shakeup—What’s Next for Tax Policy?

In a move that’s rattled D.C. corridors, former President Donald Trump just ousted IRS Commissioner Billy Long. No reasons given—just a classic Friday night news dump.

Tax chaos incoming? The abrupt firing throws IRS leadership into turmoil as the agency grapples with crypto reporting rules and post-pandemic enforcement. Long’s exit leaves a power vacuum—and a golden opportunity for Trump to install a loyalist.

Wall Street shrugs, keeps trading. Because when has IRS drama ever stopped a bull market? (Answer: Never—especially when capital gains are on the line.)

Long was a controversial pick by Trump to lead the IRS, coming with little background in tax policy. He was a former Republican congressman and ally of the US President. According to sources close to NYT, Long is expected to be nominated to an ambassadorship role. He was also a strong advocate of abolishing the IRS agency when he was in Congress, so his appointment as commissioner was a shock decision that some took as a sabotage play.

During his time as IRS commissioner, Billy Long placed two top I.R.S. officials on administrative leave, and seemingly supported the call by some Republicans to “purge” the agency’s workforce. The IRS has seen several layoffs this year already, and six different people serve as commissioner.

Long nor the IRS has commented on his reported departure.