IRS data reveals US default could come sooner than expected

Congress provided additional funding to the IRS to process tax returns and determine a more accurate debt ceiling deadline.
The IRS has determined the US could default on its debt as soon as June 1.
The more up-to-date tax information has allowed policymakers to better understand the nation's financial position as debates over raising the debt ceiling continue.
The closer the deadline approaches, the more precarious the nation's financial standing becomes and the more precise the IRS forecasts become.
President Biden has invited congressional leaders to the White House to discuss the debt ceiling issue on Tuesday.