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IRS Regrets Lavish Conference Spending

Admission during House Oversight Committee hearing.

cheats/2013/06/06/irs-regrets-lavish-conference-spending/130606-faris-fink-tease_s5e3am

Charles Dharapak/AP,Charles Dharapak

A few years after spending $50 million on a series of training conferences, the Internal Revenue Service has admitted that the expenditures were probably "not the best use of taxpayer dollars." IRS official Faris Fink told the House Oversight Committee on Thursday that "in hindsight, many of the expenses that were incurred ... should have been more closely scrutinized or not incurred at all." The Treasury inspector general report, released earlier this week, found that the IRS spent $4.1 million on a single conference in 2010. Private event planners were used, and thousands were spent to create two videos.

Read it at CBS News

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