Cut in the tax establishment (3)

I believe the answer is:

axe

'cut' is the definition.
(I've seen this before)

'in the tax establishment' is the wordplay.
'in' indicates a hidden word.
'AXE' is hidden in the letters of 'tax establishment'.

(Other definitions for axe that I've seen before include "saw alternative?" , "Make redundant" , "Terminate; chopper" , "Sack with cleaver?" , "Cut costs or staff drastically" .)

I've seen this clue in The Globe and Mail.

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