New IRS Chief Vows Overhaul Of U.S. Tax Agency

Daniel Werfel, President Joe Biden's nominee to head the Internal Revenue Service, was ceremonially sworn in Tuesday during a tax season that has gone smoother for the agency than in past years, Ben Werschkul reported for Yahoo Finance.

Photo Insert: Werfel led the IRS for seven months in 2013 on an interim basis before getting the full Senate-confirmed role this time around.

“This is our moment in history,” he told the IRS employees assembled in the lobby of the agency’s Washington, D.C. headquarters on Tuesday afternoon.

He takes over as the 50th IRS commissioner and as the agency continues to be transformed by an $80 billion infusion from the Inflation Reduction Act over the coming decade.

Werfel and Treasury Secretary Janet Yellen, who oversees the IRS and swore him in Tuesday, both promised to maximize that new money.

“As everyone in this room knows, Danny will lead the IRS through an important transition,” Yellen said Tuesday in her remarks, vowing that the boost in funds will make "the IRS into a modern, 21st-century agency.”

She added that her twin goals for the years ahead are improving customer service and launching new efforts to close the tax gap so that large corporations and the wealthy pay the taxes they owe.

Tuesday’s event marked the beginning of Werfel’s second stint atop the IRS. He led the IRS for seven months in 2013 on an interim basis before getting the full Senate-confirmed role this time around.

WEEKLY FEATURE : MVP Group Keeps Lights On During Pandemic