WASHINGTON The municipal bond market may benefit from the shake-up at the Internal Revenue Service as the newly named acting commissioner, Daniel Werfel, has close ties with state and local governments and is viewed by market groups as a strong ally.
Werfel, 42, will replace ousted IRS chief Stephen Miller, who was forced to resign this week over a scandal alleged targeting of conservative groups by the agency. Werfel, the controller of the Office of Management and Budget who oversaw the day-to-day operations at the budget office, will take the reins at the IRS effective Wednesday, May 22, President Obama said.
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