Faulkender named fourth acting IRS commissioner this year

Michael Faulkender, who was confirmed as deputy Treasury secretary at the end of March, will serve as acting IRS commissioner — the fourth since President Donald Trump took office Jan. 20.

Treasury Secretary Scott Bessent confirmed Faulkender’s appointment in a statement. He replaces Gary Shapley, who was appointed Tuesday and replaced Friday.

Media outlets, quoting unnamed sources, said Bessent went to Trump to seek to undo Shapley’s appointment.

“Trust must be brought back to the IRS, and I am fully confident that Deputy Secretary Michael Faulkender is the right man for the moment,” Bessent said in a statement.

Shapley, he said, remains one of his most important senior advisers. Shapley had testified about the taxes of Hunter Biden, the son of former President Joe Biden.

The changing of the guard at the IRS began on Inauguration Day, the effective date of former IRS Commissioner Danny Werfel’s resignation. Douglas O’Donnell, a longtime IRS employee who previously served as acting commissioner, stepped in again in the acting role. He resigned effective Feb. 27 and was succeeded by Melanie Krause, who announced her resignation April 8.

Faulkender served as Treasury’s assistant secretary for economic policy during the first Trump administration. During COVID-19, he led the implementation of the Paycheck Protection Program (PPP). He also has been a finance professor at the University of Maryland and served as chief economist and senior adviser for the Center for American Prosperity.

AICPA President and CEO Mark Koziel, CPA, CGMA, said during a speech to the Accountants Club of America in February that Faulkender kept the AICPA informed about the PPP. The AICPA was excited to see Faulkender return to Treasury so “we can continue the relationship with him and look at things in the future,” he said.

Trump has nominated Billy Long, a former congressman from Missouri, to lead the IRS. His confirmation hearing has not been scheduled.

“We urge Congress to act quickly to confirm permanent leadership at the IRS to ensure its ability to best serve taxpayers going forward,” a Treasury spokesperson said in a statement.

— To comment on this article or to suggest an idea for another article, contact Martha Waggoner at Martha.Waggoner@aicpa-cima.com.