Trump signed an executive order on his first day in office directing the Commerce Department to begin formulating plans for standing up the agency.

Robin Hartill is a Florida-based Certified Financial Planner and a longtime financial editor and writer. Her work regularly appears on The Motley Fool, Yahoo! Finance and Nerdwallet. Previously ...

(Getty Images) Last month, President Donald Trump announced a new "External Revenue Service" that would be tasked with collecting revenue from tariffs, and potentially replace the IRS as America ...

Well, maybe not, according to Commerce Secretary Howard Lutnick. “Donald Trump announced the External Revenue Service, and his goal is very simple: to abolish the Internal Revenue Service and ...

US President Donald Trump proposes replacing income tax with tariffs on imports from countries like Mexico, Canada, and China ...

The Commerce secretary, Howard Lutnick, said on Fox News on Wednesday that Mr. Trump wants to replace the I.R.S. with an “External Revenue Service” that would be funded by tariff revenue.

The tax-collecting agency aims to achieve the massive reduction in its workforce through layoffs, attrition and buyout offers ...

On the day of his inauguration, President Trump pledged to create an External Revenue Service to oversee tariffs, duties, and other foreign trade-related revenues as part of his "America First ...

President Donald Trump made headlines when he announced an External Revenue Service (ERS) agency to collect tariff incomes. The announcement sparked a heated debate among trade experts ...

One of President Trump’s objectives over the next four years is to have US revenues from tariffs become so massive that the Internal Revenue Service is no longer needed, his commerce secretary ...

The Trump tariff proposal gives India an opportunity to overhaul and reduce its import tariffs, at least on those items which ...

President Donald Trump's plan to build an "External Revenue Service" is stuck in limbo even as the White House mounts an aggressive trade war with Canada and other countries. On his first day in ...