Market
What will be the main challenge faced by the IRS during the 2025 tax season?
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Resolution / Starting Odds
Technical issues • 25%
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Reports in major financial news outlets or IRS announcements
Story
IRS Commissioner Danny Werfel Resigns January 20, 2025, as Trump Nominates Billy Long
Jan 17, 2025, 05:50 PM
IRS Commissioner Danny Werfel has announced his resignation effective January 20, 2025, coinciding with the inauguration of President-elect Donald Trump. Werfel, who was appointed by President Joe Biden, decided to step down rather than wait for Trump to remove him, despite having nearly three years left in his term, which ends on November 12, 2027. Trump has nominated former Missouri Representative Billy Long, known for his career as an auctioneer, to replace Werfel. Long lacks formal training in tax, law, or accounting. Following Werfel's departure, Deputy Commissioner Douglas O'Donnell, who has a background in accounting and previously served as acting IRS Commissioner, will serve as the Acting Commissioner until Long is confirmed by the Senate. Werfel's decision comes ahead of the 2025 tax season, set to begin on January 27. He highlighted the IRS's recent achievements, including improved phone, online, and in-person services, and the introduction of new digital tools to modernize the agency.
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