On Thursday, the Senate Finance Committee voted 17-9 to approve the nomination of Danny Werfel to lead the Internal Revenue Service. The next step in the confirmation process will be a full vote by the Senate, although a date for that vote has not yet been scheduled.
The bipartisan vote for President Joe Biden’s candidate for IRS Commissioner included support from all 14 Democrats on the committee, as well as Republican senators Chuck Grassley (IA), Bill Cassidy (LA), and Todd Young (IN).
While the Democrats hold a 51-49 majority in the Senate this term, two senators are currently hospitalized, therefore Democratic leadership may delay a vote until their full body is available. Senator Dianne Feinstein (D-CA) was admitted on Thursday with a case of shingles, and John Fetterman (D-PA) was admitted in late February as he continues recovery related to a stroke during his election campaign in 2022. If approved, Werfel would succeed Charles Rettig, whose term ended in November 2022. Werfel’s term would last until Nov. 12, 2027.
“He’s going to do this job consistent with the law, and he made it clear he’s going to work with both sides of this committee,” said committee chairman Ron Wyden, (D-OR).
Werfel previously served as acting commissioner of the IRS in 2013, and also worked in the agency in other roles under both Democratic and Republican administrations. He also served in the U.S. Office of Management and Budget as a deputy controller and federal controller. Since that time, he has served in a leadership role at management consulting firm Boston Consulting Group.
The Finance Committee on Thursday also approved the nominations of Dr. Brent Neiman to serve as Assistant Treasury Secretary for International Finance by a vote of 17-9 and Dr. Rebecca Haffajee to serve as the HHS Assistant Secretary for Planning and Evaluation by a vote of 14-12.
If his nomination is approved by the Senate, Werfel will take over an agency that just received an influx of funding thanks to the Inflation Reduction Act, which was passed by Congress in August. The $80 billion in funding the IRS will receive over the next 10 years will be used to hire more personnel—including tax agents and customer service representatives—and to update the agency’s antiquated technology.
Source: https://www.cpapracticeadvisor.com/2022/11/11/biden-nominates-daniel-werfel-as-next-irs-chief/73164/
In February, Treasury Secretary Janet Yellen voiced support for Werfel, saying, “I strongly support President Biden’s intent to nominate Daniel Werfel to serve as the next commissioner of the IRS,” she said. “Danny’s prior service under both Democratic and Republican administrations, his deep management experience, and his work directing significant transformation efforts, make him uniquely qualified to lead the agency at this critical juncture.”
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Tags: Accounting, Income Taxes, IRS, Taxes
